Euro holds gains as risk appetite grows after French elections

Euro held on to its gains today after hitting a five-month high versus the dollar, as concerns dissipated in the markets following the first round win of centrist Emanuel Macron in French presidential elections. 

Euro opened sharply higher today before tapering off, while holding most of the gains overall on account of dollar's weakness. 

Macron beat far-right candidate Marine Le Pen, soothing markets' concerns about Le Pen's call for France to exit the European Union, with investors buying up the euro anew. 

EUR/USD last traded at 1.0857, compared to the opening of 1.0918, with a session-high at 1.0918, and a low at 1.0820. 

On the other hand, euro found support from positive data from Germany in April, with the Ifo Business Climate index up slightly to 112.9 from 112.4 in March.