The euro rose by around 0.2% to $1.102 against the dollar, according to data from Thomson Reuters, taking it to its highest level since the U.S. Presidential election in November. An exit published by Kantar Sofres immediately after French polls closed ...
British Prime Minister Theresa May reacted rapidly to the election of Emmanuel Macron.
"The Prime Minister warmly congratulates President-elect Macron on his election success. France is one of our closest allies and we look forward to working with the new President on a wide range of shared priorities," her office said in a statement.
Behind the scenes too, British officials will likely be breathing sighs of relief because they believe it will ease the forthcoming negotiations over the U.K. departure from the European Union.
Unlike some hardline Brexiters who favored a Le Pen victory -- the former head of the U.K. Independence Party Nigel Farage said today "Macron offers five more years of failure, more power to the EU and a continuation of open borders" -- senior U.K. policymakers were rooting for Mr. Macron.
They believe that negotiations will be easier if the EU is self confident and not feeling under threat.
Mr. Macron has been strongly pro-EU throughout the campaign and, though his language on Brexit has been tough, officials believe that is better for the atmosphere of the talks than a Le Pen presidency that they feared would likely have brought turmoil and uncertainty to Europe.
In a similar way, EU officials in Brussels welcomed Mrs. May's decision to call a general election for June 8, which they expect to deliver her a larger majority. They said that a stronger British government would be able to negotiate with more confidence and deliver on its commitments.
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