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2017-04-21 17:30
Bloomberg

Analyst Who Predicted Trump Ascendancy Is Betting on Le Pen Win

Marine Le Pen, French National Front political party leader and candidate for the French 2017 presidential election, leaves after a news conference in Paris, France, April 21, 2017. REUTERS / Benoit Tessier
Marine Le Pen, French National Front political party leader and candidate for the French 2017 presidential election, leaves after a news conference in Paris, France, April 21, 2017. REUTERS / Benoit Tessier
Don‘t bank on a relief rally in the euro area anytime soon.

Markets are underpricing the prospect of Marine Le Pen emerging victorious in the French election as a sea of undecided voters throws into sharp relief pronounced apathy for center-leftist Emmanuel Macron -- the front-runner by a whisker -- and the backlash against the European Union project.

That‘s the conclusion drawn by Charles Gave, founder of Hong-Kong based asset-allocation consultancy GaveKal Research, who predicted the triumph of Donald Trump in the U.S. election, and is now betting on a win for the anti-euro National Front candidate.

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