Euro falls for second straight day as dollar climbs

Euro fell on Tuesday for the second straight day as the dollar recovered against a basket of rivals, while demand weakens on the common currency amid concerns about the next French presidential elections.
 
EUR/USD last traded at 1.0688, down from the opening of 1.0743, with an intraday high at 1.0745, and a low at 1.0657.
 
The dollar rose today for the second consecutive session as demand rose on the greenback and triggered short-covering after hitting a three-month low last week, hurting the euro in turn.
 
Concerns grow over the next French presidential elections, specially with the Far Right candidate Marie Le Pan, who's waging a war on globalism and wants a referendum on exiting the European Union in case the country failed to amend its membership.
 
These factors dampened demand on the euro and pushed it lower this week on profit-taking as the dollar recovers against a basket of currencies, with analysts expecting further pressure due to expectations of three more U.S. rate hikes this year.