The bounce for the New Zealand dollar comes at a time of flux for monetary policy in a number of developed economies.
“We would have been even more positive were it not for the uncertainties triggered by the French presidential election.”
Despite a surge in measures of expected volatility, the euro rose another third of a percent to $1.0748 in early European trade, its strongest in three weeks.
Money market expectations for a rise in European Central Bank interest rates have largely evaporated.
For Reuters Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets (Editing by Mark Trevelyan)
Euro hits three-week high against dollar and French stocks rally as presidential election looms
as declared in Equipment hire group Ashtead plunged to a four-month low in intraday trade after its closest US rival United Rentals warned rental rates “remain under some pressure”.
However, since touching its highest level this year, of £17.64, the FTSE 100 stock has slipped 8pc.
Ashtead, which generates more than 80pc of its revenues from North America, was one of the biggest FTSE 100 beneficiaries of the ‘Trump bump’.
Shares have rallied 30pc since Donald Trump’s shock victory in November on his ambitious economic agenda.
Although United Rentals’ first quarter revenues and earnings per share came in ahead of expectations, the cautious tone struck by chief executive Michael Kneeland on rental rates rattled investors in the sector.
as declared in
One euro EURUSD, +0.0840% bought $1.0698 late Friday in New York, cementing a weekly rise of 0.7%.
By comparison, it traded at $1.0717 late Thursday in New York after briefly touching a 3-week high.
Le Pen, who is polling nearly even with Macron, has advocated for France to ditch the euro and leave the European Union.
Aslam believes the euro could tumble to $1.03, what would be its lowest level in 13 years, if both Melenchon and Le Pen advance.
However, a poll released Friday showed support for Le Pen had increased only marginally.