Euro boosted by French election, dollar near two-year highs

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Reuters UK

By Karen Brettell NEW YORK (Reuters) – The dollar held just below two-year highs against a basket of currencies on Monday as it continued to be supported by higher U.S. Treasury yields, while the euro rallied after French leader Emmanuel Macron beat far-right challenger Marine Le Pen in the country’s first round of presidential voting. The greenback has gained as Treasury yields soar on expectation of more aggressive tightening by the Federal Reserve, with benchmark 10-year note yields reaching 2.78% on Monday, the highest since January 2019. But the euro looked set to snap a seven-day losing …

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