The euro recovered nicely after the shock of the weekend elections, but this strategist thinks it may be temporary.
How about that euro, huh? After falling to a four-month low against the dollar right after the results of France's election were announced, the single currency has managed to make its way right back into its longtime trading range.
Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank, says there were a couple of factors at work. First, investors had big short positions in the euro, so when it dipped below 1.30 against the dollar, "that's a good area for people to take profits, so that's exactly what they did," she told CNBC's Melissa Lee. Also, London markets were closed for a holiday, so there was no follow-through to the initial selloff.