Euro soars to six-week high as dollar flags

Euro rose today to a six-week high as the dollar tumbled against a basket of currencies, while tensions eased regarding the French presidential elections, opening the door for more gains to the common currency. 

EUR/USD last traded at 1.0813, up from the opening of 1.0739, with a session-high at 1.0822, and a low at 1.0738. 

Euro's rally comes after the dollar tumbled against a basket of currencies to a six-week trough as speculations about an accelerated timeline for rate hikes faded following dovish statements from Fed officials. 

On the other hand, the G20 meetings saw the dropping of the pledge to keep global trade open and free in the final statement under strong pressure from U.S. president Trump's administration, in turn hurting the dollar as investors believe Trump wants to weaken it. 

Recent polls on France's elections showed an easy win for centrist Emannuel Macron over Far Right candidate Marie Le Pen, which pledged to take France out of the European Union, in turn easing the pressure on the euro.