The euro had a boost from the French election result

(Photo by Aurelien Meunier/Getty Images)

The euro breached $1.10 for the first time since the US elections after Emmanuel Macron beat Marine Le Pen to win the French presidency, allaying investor fears about the nation being led out of the common currency bloc.

A short while ago, the currency climbed about 0.1% to $1.1012 after hitting a high of $1.1022, the highest level since November 9.

The euro also rose as much 0.5% against the safe haven yen to hit a one-year high of 124.52 yen. A short while ago it was trading 0.3% higher at 124.32 yen.

Macron, a 39-year-old pro-business centrist, defeated Le Pen, a far-right nationalist who called for France to exit the European Union, by a margin of 65.1 % to 34.9%, according to the French Interior Ministry.

His victory was a relief to European allies who feared another populist result after Britain’s vote to exit the European Union and Donald Trump’s ascension to US president last year.

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