The cost of hedging euro volatility against the dollar in the three months leading to the first-round of France's presidential election dipped on Tuesday, with investors showing few immediate signs of concern about a possible win for the far-right candidate Marine Le Pen. Three-month euro/dollar implied volatility - an option that on Tuesday covered the April 23 first-round vote outcome for the first time - dropped 0.3 percent to 8.875 percent, its lowest levels in 10 weeks.
Le Pen, head of the anti-European Union, anti-immigration National Front, is seen by pollsters as highly likely to make a two-person runoff vote for the French presidency on May 7. But she is seen losing in the second round, whoever her opponent.