Euro knocked by European vote uncertainty [Video]

The euro recoiled Monday after a far-right surge in weekend EU polls sparked a general election in France, although analysts believe the single currency will remain resilient.

The shared eurozone unit was down 0.3 percent at $1.0736 around 1415 GMT, while the Paris CAC 40 stocks index slumped 1.9 percent in shock over President Emmanuel Macron’s election call.

Investors fretted over the region’s political “shift to the Far Right”, as well as the “surprise factor” of a snap general election in France, according to XTB analyst Kathleen Brooks.

Macron announced Sunday that he was dissolving the National Assembly, or French Parliament’s lower house, after news that far-right parties including National Rally (NR) took almost 40 percent of the French vote.

NR is led by 28-year-old leader Jordan Bardella, whose mentor is Marine Le Pen — runner-up in the last two presidential elections.

France will vote for a new National Assembly …