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French election results soothe investor fears

Christopher Ena/AP

Investors breathed a sigh of relief following the first-place showing of centrist and pro-European Union candidate Emmanuel Macron in the first round of France's presidential elections Sunday, sending the Euro to a five-month high relative to the dollar. Populist Marine Le Pen ranked second in the voting.

Why it matters: The results make it more likely that Macron will be France's next president, keeping France in the EU. That should have a positive impact on both French stocks and the U.S. economy.