Euro retreats after hitting six-month high

London

THE euro retreated on Monday from highs hit on centrist Emmanuel Macron's victory in France's presidential election, with investors taking profit on a roughly 3 per cent gain for the currency since he won the first round two weeks ago.

Mr Macron's resounding defeat of nationalist Marine Le Pen has relieved investors who had feared another populist upheaval after Britain's vote to exit the European Union and Donald Trump's election as US president last year. But after opinion polls had shown Mr Macron consistently around 20 percentage points or more in front, his crushing victory on Sunday was widely expected.