A Danis Bank stated that due to growing concerns about the political situation in France, the euro fell below 1.08 against the US dollar yesterday, almost completely reversing the previous day's increase following the unexpected decline in US CPI. In addition, the fluctuation of the euro against the US dollar has soared again, and the increasing French government bond credit default swap (CDS) indicates that the market is once again worried about the upcoming French parliamentary elections. The news of the left-wing party forming an alliance to challenge Macron may be the reason for the increasing market concerns about political uncertainty. We believe that the new political uncertainty will put pressure on the euro against the US dollar in the coming weeks.