Emmanuel Macron (23.9%) and Marine Le Pen (21.4%) are the winners of the first round of the French presidental election. Pollsters did a good job this time around with the results coming in largely as expected. Euro gapped higher overnight as Macron victory remains the most likely scenario.

The pair traded above 1.0930 in pre-market and opened just above 1.09, that's about 180 pips from Friday closing levels. EUR/JPY gap was even more impressive, close to 380 pips. Latest polls suggest Macron's lead has narrowed, which could mean some further pullback in both pairs.

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