French referendum ups volatility
Even though polls suggest a slight shift towards a ‘Yes’ vote, market players said the whole build-up is only damaging for the euro.
"The process will only have a negative impact on the euro short term," Georg Kirchner, global head of FX at HypoVereinsbank (HVB) in London, told FX Week. "We are already seeing regular euro buyers such as Asian central banks dropping out," he said. "We will have to wait and see what it ultimately means because the Euroland governments will obviously play it down."
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