The euro could take a "swan dive" if the two extremist candidates advance to the second round of the French election, currency expert Boris Schlossberg told CNBC on Friday.
And right now, the race is a "complete wild card," with about 40 percent of voters undecided, he pointed out. The first round of the election is set for Sunday.
Four candidates are making a bid for the presidency. Former Economy Minister Emmanuel Macron and mainstream conservative Francois Fillon are the two centrist candidates. Far-right Marine Le Pen and far-left Jean-Luc Melenchon have both indicated they are willing to take France out of the European Union.
"Any kind of serious contention that Le Pen wins or, the worst-case scenario, if we have Melenchon and Le Pen — the far right, far left — the only choice for France, could take the euro down to parity very quickly," Schlossberg, managing director of FX strategy at BK Asset Management, said in an interview with "Closing Bell."