Euro Quoted Lower as Left-Wing Bloc Set to Win French Election.

The euro has weakened in early Asia trading following initial projections of a surprise victory for the leftist alliance in France's legislative elections. The New Popular Front, which includes the Socialists and far-left France Unbowed, is expected to secure a significant number of seats in the National Assembly. This outcome is seen as unfavorable by the market due to concerns over increased public spending and potential clashes with the European Union. While the left alliance is unlikely to achieve an absolute majority, the result introduces a new level of uncertainty for French assets. [Extracted from the article]