FOREX-Euro on 防御の as French 選挙 実験（する）s 投資家 神経s
By Hideyuki Sano
TOKYO, Feb 21 (Reuters) - The euro was on the 防御の on Tuesday, under 圧力 from 恐れるs that the French 大統領の 選挙 could upset the status quo, as rising anti-設立 感情 surfaced after last year's Brexit and the U.S. 選挙.
The 賞与金 that 投資家s 需要・要求する to 持つ／拘留する French 社債s instead of German 負債 rose to its highest since late 2012 after a 投票 showed 右翼 候補者 海洋 Le Pen 狭くするing the gap with more 中道派（の） 対抗者s.
The euro 貿易（する）d at $1.0614, having moved little on Monday 予定 in part to a holiday out U.S. 投資家s. It has fallen 1.75 パーセント so far this month.
"Everybody has learned lessons from last year's big surprises. People probably don't want to take big 危険s. The euro could 直面する その上の 圧力 given there's still time before the 選挙," said Ayako Sera, market strategist at Sumitomo Mitsui 信用 Bank.
The first 一連の会議、交渉／完成する of the French 大統領の 選挙 is scheduled on April 23, with the run-off between the 最高の，を越す two 競争相手s on May 7.
The euro has been helped by the 欠如（する） of 進歩 between 社会主義者 候補者 Benoit Hamon and hard-left 候補者 ジーンズ-Luc Melenchon in 会談 on 協調.
恐れるs that 協調 on the left could lead to a run-off between either Hamon or Melenchon and Le Pen, 除去するing three main 穏健な 候補者s, have dogged the euro since Friday when the two 左派の（人）s said they were discussing such 協調.
Another 慰安 for the euro （機の）カム from Brussels, where Greece and its international 貸す人s agreed to let 専門家s work out new 改革（する）s to Greek 年金s, 所得税 and the 労働 market that would 許す Athens to 結局 qualify for more cheap 貸付金s.
Greece needs a new tranche of 財政上の 援助（する） under its 86 billion euro bailout by the third ４半期/4分の1 of the year to 会合，会う 負債 返済s, but agreeing on a fresh 援助（する） could 証明する difficult as not only フラン but also Germany and かもしれない Italy fac e 選挙s later this year.
Against the yen, the euro 貿易（する）d at 120.15 yen, after having fallen to 119.65 yen on Monday.
The dollar was little changed versus the yen at 113.16 yen . It has been slipping, 大部分は in tandem with a 落ちる in U.S. 社債 産する／生じるs, after hitting a two-week 頂点（に達する） of 114.955 yen last Wednesday.
The minutes from the 連邦の Reserve's last 政策 会合 予定 on Wednesday are the next 重要な 焦点（を合わせる）.
"The minutes could change the market's 傾向. They may have talked about 減ずるing the Fed's balance sheet. Or the minutes may show some members are やめる 肯定的な about 率 引き上げ（る）s," said Yukio Ishizuki, 上級の strategist at Daiwa 安全s.
"That sort of signal could fan 憶測 of a 率 引き上げ（る） in March. If you look only at the firmness in 最近の U.S. 経済的な data, there's no 推論する／理由 not to raise 率s in March," he said.
Money market 未来s are 現在／一般に pricing in the chance of a 率 引き上げ（る） next month at about 20 パーセント.
The Australian dollar 貿易（する）d at $0.7689, not far from its three-month high of $0.7732 touched last week, supported by the firmness in 物価s (報告（する）／憶測ing by Hideyuki Sano; Editing by Eric Meijer)
