A bout of risk aversion in equity markets, after the sharp climbs of the past few weeks, put a bid under the two safe haven currencies, the Swiss franc and the Japanese yen.

Political fears eased last week as markets became less apprehensive about the French polls, sending risk assets and the euro up and thedollar down.

As the results of the UK general election filtered through during the early hours, markets responded with a shrug to the anticipated Labour majority victory under newly-appointed Prime Minister Keir Starmer. Despite a narrower victory margin than both the polls and models had predicted, the impact on sterling has thus far been muted, reflecting investor preparedness for the political landscape that lies ahead.

Le Pen’s National Rally wins most votes in French first round elections, but seen short of winning an absolute majority. Biden’s poor debate performance boosts Trump’s re-election bid.

We got a hint a couple of weeks ago about the renewed importance of the political calendars after election results in Mexico, South Africa and India rocked those countries’ markets and currencies – last week, theturmoil moved to Europe.

This article highlights how Ebury helped a pan-European private equity and real estate investment manager with operational real estate businesses like hotels, offices, and shopping malls across Europe improve its operational efficiency with its unified cash management solutions.

Last week’s interest rate cut from the European Central Bank was overshadowed by electoral and economic news.