Forex markets absorb political chaos in Europe

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Foreign exchange markets appeared relatively resilient amid the dramatic political changes in France and Greece last week, with participants reporting a fairly muted reaction to the election of socialist François Hollande as president of France and the success of extreme political parties in the Greek parliamentary elections.

Following the results of both elections on May 6, the euro fell sharply against the dollar during the course of last week and was trading at 1.2948 on May 11, as FX Week we

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