As per FT report, European stock funds enjoyed their largest weekly inflows since late-2015 on French election relief.
“Investors added $2.4bn to funds that invest in Western European stocks in the week to April 26, up nearly fourfold from a week prior”, the report says.
Macron, who supports European integration, came out victorious in the first round of the French elections. More importantly, Macron maintains a healthy lead and is seen beating the anti-EU candidate Marine Le Pen in the second round by a big margin.
The increased fund flow into European stocks clearly explains the surge in the EUR pairs seen this week.