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Euro Unmoved by Catalonia Regional Election Outcome

Euro Unmoved by Catalonia Regional Election Outcome

Bradley Kearns, Contributor

Talking Points:

  • The Euro was unaffected as the Together for Yes party won the Catalan Election
  • Pro-Independent parties won 48 percent of the regional vote as a whole
  • Antonio Baños of the Popular Unity Candidacy party said there will be no coalition

The Euro was little-changed against the US Dollar after the Together for Yes party won the Catalan election. Artur Mas, the political leader of the Together for Yes party, won 46 percent of the votes in the regional election. Mas orchestrated this vote to act as an informal referendum for a separation from Spain. Pro-Independence parties won 48 percent as a whole. In order for Mas’ political group to hold the majority in parliament and work towards a separation from Spain, it will need to form a coalition with the Popular Unity Candidacy. That party’s spokesperson, Antonio Baños, stated that a coalition will not be formed unless 50 percent or more of Catalonia voted for secessionist parties. That may explain why the Euro has thus far ignored the election result.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.