Investors’ concern regarding the future trends of the euro zone’s second largest economy had put pressure on the currency and added to concerns regarding the economic cost of the war in Ukraine.
Meanwhile, the dollar also rose, supported by increased US bond yields and expectations that the Federal Reserve will move quickly to curb inflation.
Macron is set to compete with Le Pen in the April 24 run-off in what is expected to be a tight race.
But Macron’s advance in the first round gave the euro some respite from losses and increased in Asian transactions, recording $1.0955. In the latest trading, the euro rose 0.4 percent to $1.09150.
However, currency market analysts say the competition is too close, which will have negative repercussions for the euro.
The dollar index, which measures the performance of the US currency once morest a basket of competing currencies, largely stabilized at a level just slightly below the 100 it reached last week for the first time in nearly two years.
While the dollar made some gains, the Japanese yen came under some of the strongest selling pressure as investors saw no reason to pull back on bets once morest the yen while the Bank of Japan kept yields near zero.
The yen fell to its lowest level in seven years once morest the dollar during the day, recording 125.435 yen per dollar. In the latest trading, it fell to 125.19.
The US dollar gained as much as 0.5% once morest the Australian and New Zealand dollars on the day before those gains were pared back. The British pound stabilized once morest the dollar to a large extent, recording 1.30290 dollars.
The Russian ruble fell in volatile trading on Monday, reversing some of the gains it made last week, following the central bank decided to ease temporary measures to control the movement of capital.
