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French market leaps amid hopes Le Pen will fall short of outright victory

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Euro rises against dollar as far right makes gains but investors believe result could have been worse

The euro rose against the dollar, while the risk premium investors demand for holding French government bonds fell as the markets took the view that the result could have been worse.

France election live: first-round results give far-right alliance 33% of vote, as PM warns Le Pen at ‘gates of power’RN secured 33% of the vote, while the leftwing New Popular Front secured 28% and Emmanuel Macron’s centrist bloc won the support of 20% of those who voted.We are not out of the woods yet. The National Rally exceeded expectations and may yet pick up the second-round votes for a relative or even absolute majority.

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