LONDON—The euro looked set to snap a seven-day losing streak versus the dollar on Monday, as the single currency rallied after French leader Emmanuel Macron beat right challenger Marine Le Pen in the country’s first round of presidential voting. Investor concerns about the future direction of the eurozone’s second-biggest economy have weighed on the euro and added to worries over the economic costs of war in Ukraine. Meanwhile, the dollar has been pushed higher by rising U.S. yields and expectations the Federal Reserve will act quickly to stem inflation. One of the big fallers has been the Japanese yen, which fell to a fresh seven-year low versus the dollar. Macron will face Le Pen in what promises to be a tightly fought French presidential election runoff on April 24. Nonetheless, Macron’s lead in the first round provided some respite for the euro—lifting it by as much as three quarters of …
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