News: FOREX-Macron lead lends a hand to the euro ahead of ECB

The euro made a firm start to the week on investor relief that incumbent Emmanuel Macron led first-round voting in the French presidential election, while other moves were slight ahead of central bank meetings in Europe, Canada and New Zealand.
The euro EUR=EBS briefly flickered as high as $1.0955 in thin early hours of the Asia session, before settling about 0.15% higher than Friday's close at $1.0890. It was also firmer on sterling EURGBP= and the yen EURJPY= .
With 88% of votes counted, Macron garnered 27.41% and his far-right challenger Marine Le Pen was next with 24.9%.
They will contest a runoff vote on April 24. Macron's lead gave some confidence to markets leery of Le Pen's protectionism even if she no longer advocates ditching the euro, though gains were capped ahead of Thursday's European Central Bank meeting.
"It's a patchy bit of support," said Westpac strategist Imre Speizer, as investors are also grappling with an ECB unlikely to sound as aggressive as Federal Reserve in heading off inflation.
"I think that biggest story of the two central banks being quite different is probably quite supportive of the U.S. dollar in the longer run," he said.
The U.S. dollar index =USD topped 100 for the first time in nearly two years on Friday, and was steady at 99.805 in morning trade. Against the Japanese currency JPY=EBS the dollar was firm and bought 124.32 yen.
The ECB has been weighing rising consumer prices against pressure on growth from war in Ukraine. It is expected to give more details about a wind down in asset purchases on Thursday but may not give any further explicitly hawkish signals.
Central bank meetings are also due in Canada and New Zealand on Wednesday and interest rate swaps pricing indicates that traders see a more than 90% chance that each hikes rates by 50 basis points. BOCWATCH RBNZWATCH
That could leave both currencies vulnerable if a smaller rate rise is delivered.
The New Zealand dollar NZD=D3 wobbled 0.2% lower to $0.6836, while the Canadian dollar CAD=D3 held at C$1.2583 per greenback.
Elsewhere, the Australian dollar AUD=D3 also eased 0.2% to $0.7447 as gains in commodity currencies start to fade further with a retreat in export prices. Sterling GBP=D3 held at $1.3026.
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	Currency bid prices at 0015 GMT 
 Description	  RIC		 Last		   U.S. Close  Pct Change	 YTD Pct	 High Bid	Low Bid 
											  Previous				   Change				  
											  Session											
 Euro/Dollar	   EUR=EBS	$1.0888		$1.0875	 +0.13%		 +0.00%	  +1.0955	 +1.0883 
 Dollar/Yen		JPY=EBS	124.3700	   124.2900	+0.06%		 +0.00%	  +124.4200   +124.3600 
 Euro/Yen		 																			 
 Dollar/Swiss	  CHF=EBS	0.9343		 0.9362	  -0.21%		 +0.00%	  +0.9344	 +0.9290 
 Sterling/Dollar   GBP=D3	 1.3028		 1.3033	  -0.04%		 -3.67%	  +1.3040	 +1.3028 
 Dollar/Canadian   CAD=D3	 1.2588		 1.2572	  +0.14%		 -0.44%	  +1.2590	 +1.2567 
 Aussie/Dollar	 AUD=D3	 0.7448		 0.7460	  -0.17%		 +2.45%	  +0.7465	 +0.7440 
 NZ				NZD=D3	 0.6837		 0.6848	  -0.19%		 -0.14%	  +0.6854	 +0.6832 
 Dollar/Dollar																				   
All spots FX= Tokyo spots AFX= Europe spots EFX= Volatilities FXVOL= Tokyo Forex market info from BOJ TKYFX
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World FX rates	https://tmsnrt.rs/2RBWI5E 
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