Euro lose value at auction in Australia after French elections

By Alimat Aliyeva

The euro is trading 0.3% lower in Australia on Monday than at Friday's close, a negative trend that may reflect investor concerns about the victory of leftist parties in the French elections, Azernews reports.

According to him, $1,0807 is being offered for €1 at the Australian Stock Exchange trading that opened on Monday.

Investors were worried about the prospect of Le Pen's "National Unification" coming to power in France, but the victory of the left-wing New Popular Front was their greatest fear due to the coalition's promises to expand budget spending when the country's public finances are already burdened with debts, the agency writes.

Earlier, the newspaper Le Monde, citing data from the Interior Ministry, reported that the alliance of the left, the New Popular Front, was winning early elections to the National Assembly (lower house of parliament) of France, receiving 182 mandates.