The Pound Rises
The British Pound is rising from its Brexit-induced collapse. And the currency is soaring against the U.S Dollar while posting somewhat mixed performance against the Euro. The Euro, on its end, has strengthened heavily due to the seemingly inevitable defeat of Marine Le Pen and her far-right, Eurosceptic National Front in France.
Macron is expected to win with 59% of the votes compared to Le Pen's 41%. And this pivotal defeat of populism is seen as a crucial victory for the economies of both Britain and continental Europe.
The British Pound Strengthens Against the Dollar
However, despite the good news in the pound, European Union official plan to take a hard line against Brexit, and this could reverse some of the currency’s recent gains. And if Le Pen loses in France, Britain could find itself losing a potential partner in the fight against the Brussels.
The EU officials plan to make Britain pay a financial settlement before discussing any trade deals. They also seek to prevent the British government from making any deals with individual member states without dealing with the whole of the Union. Overall, they are determined to make sure Britain ends up worse off after Brexit so other countries are not tempted to follow in its footsteps.