Charts show traders writing down chances of a Le Pen presidency

HONG KONG: Markets have trimmed their hedges against a Marine Le Pen victory, judging that the outcome of France’s first-round presidential poll reduced the odds of her winning office and seeking an exit from the euro.

Anxiety that the ballot would deliver a market surprise akin to those seen after Donald Trump’s win and the UK referendum faded as most Asian stocks and the euro jumped with higher-yielding assets. Volatility bets were cut, while havens took a beating after the vote put Emmanuel Macron in pole position to become the country’s next president on May 7.