On Sunday, France had the second round of presidential elections. Emmanuel Macron, the centrist candidate and the favorite of financial markets, has become the country’s next president. The head of the political movement Onwards! decisively won the election, defeating far-right candidate Marine Le Pen, who had pledged to withdraw France from the EU.
The victory of centrists justified expectations of the European allies of Paris, who feared the victory of the populists after Brexit and the election of Donald Trump as president of the United States.
Following Macron’s election win, the dollar strengthened against the euro to a six-month high. Asian and US markets also showed growth.
Macron beat Le Pen with 66% of the vote. This is nearly 20% more than the result for Le Pen. However, that is a high result for the National Front (FN) as its anti-immigration tactics made the party an outcast. The party's success means the split in the French society, and the new president will have to face these problems.
The next crucial issue for Macron is to win a majority in the French parliamentary elections, which will be held in June.
