Euro falls sharply as far right gains prompt French snap general election

The euro dropped 0.5% on the dollar to $1.0747, its lowest since May 9, prompted by Emmanuel Macron calling a snap election

French president Emmanuel Macron appearing on a TV screen at the French far-right National Rally party election night headquarters on Sunday in Paris.  

The euro fell sharply on Monday after gains by the far right in European Parliament elections prompted French president Emmanuel Macron to call a snap national election.

The uncertainty in France adds one more element to what will be a busy week for markets with US inflation data due on Wednesday, the same day as a US Federal Reserve policy meeting, and a Bank of Japan meeting rounding off the week.