The euro reached a six-month high against the dollar when markets opened Sunday evening as exit polls showed a victory for centrist candidate Emmanuel Macron in the final round runoff of the French presidential race.
The European single currency climbed to $1.1010 in early deals after closing at $1.0995, according to Reuters data. The move marks a 0.13 percent rise on the session. This is the first time the euro has reached such highs since the U.S. presidential election.
Macron emerged the winner in the race to the Elysee Palace late Sunday as polls closed on one of the closest fought presidential races in recent French history.
The centrist candidate is seen to have secured approximately 65 percent of votes to far-right Marine Le Pen's 35 percent, according to a Kantar Sofres poll. The success of Macron, a 39-year-old former Rothschild banker, buoyed markets in early Asian trading as fears over a break-up of the currency union subsided under Marine Le Pen's defeat.