France goes to the polls in a snap election.

Emmanuel Macron last night called a surprise snap election in France. This came as a direct response to his ruling party loosing badly in an EU parliamentary vote to Marine Le Pen’s far right party. Much speculation abounds about why Macron chose to announce an election after a big political defeat, but one thing is clear, it’s a risk to centralist French politics and thus a risk to French stability and to the continuity of the EU in general. In turn this has implications for the UK and importantly Europe’s approach to the current war in Ukraine.  The Euro fell to its lowest level in a month on the news as markets digest the implications.