PanARMENIAN.Net – The euro hit a six-month dollar high before falling back as markets reacted to Emmanuel Macron’s victory in France’s presidential election, BBC News reports.

The euro jumped to $1.1024 at one point before slipping back to $1.098.

Investors had widely expected pro-EU centrist Macron to beat far right nationalist Marine Le Pen.

He has proposed cutting corporation tax and changing the labour market, but there are concerns about his ability to get his plans implemented.

As an independent, Macron does not have representatives in parliament.

Peter Hensman, global strategist at Newton Investment Management, said: “The challenge going forward is Macron’s lack of significant support in parliament.”

“He founded his own party, En Marche!, and hence currently has no elected representatives to push through his plans. This means the parliamentary elections scheduled for 11 and 18 June will have significant implications for his future prospects.”

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