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EUR/USD unable to set weekly close above 1.0700- French polls could hamper it again today

On Friday the EUR/USD was not able to recover back above the 1.07 handle. It did rebound from the earlier session low, at 1.0671, but despite several attempts 1.07 remained elusive. The EUR/USD later closed the week at 1.0693. The news over the weekend; that the French National Rally Party, headed by Marine Le Pen has extended its lead in the latest polls, to around 36% of the vote is another worry for the Euro this week. Add that to the really disappointing PMI data last week and it looks rather toxic for the Euro right now, irrespective of whatever the latest US data has to offer. Overnight the EUR/USD has held a tight range, with 1.0684 to 1.0696 covering it so far. The Euro is currently trading at 1.0696

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