• French election: emmanuel macron beats le PEN to presidency

    Source: FxWire Pro - Commentary / 07 May 2017 17:37:42   Eastern Standard Time

    The independent French candidate Emmanuel Macron who led the ‘En Marche’ movement is set to become the next President of France according to the latest counting.  With 85 percent of all votes counted, Emmanuel Macron is beating the Front National candidate Marine Le Pen by winning 65.2 percent of all votes. The result was even better than what the polls were predicting for Macron. The majority of the polls were predicting that Le Pen could get as high as 40 percent.

    This is a decisive victory for the euro currency, which has shot up above 1.10 against the dollar, as well as a victory for the European Union. The stark contrast between the two candidates made the round-two election similar to a referendum on the European Union. Madame Le Pen had promised that she would take France out of the EU via a referendum is she wins. She has won just 34.8 percent of votes. Her party’s image as a far-right one kept many euro-skeptic voters away from her camp. In the round-one of the French election, three EU-skeptic candidates received 45.7 percent of all votes but Le Pen has clearly failed to attract all of them to her camp in the round-two, where she was the only EU-skeptic.