Is the euro about to face a major crisis? The future of the single currency is under scrutiny as French parliamentary mayhem ensues following President Emmanuel Macron's snap election call. The euro slumps against most of its G-10 currency counterparts after the far right gained seats in the European Parliament, triggering significant market volatility.

The euro slipped on Monday, but recovered somewhat from overnight lows against the dollar, as France's election results pointed to a hung parliament. However, the initial reaction saw the euro suffer a sharp decline against the dollar and other currencies.

The dollar is modestly stronger after a surprise win of the left-wing alliance in the French second-round legislative elections initially sent European currencies lower. This parliamentary pivot and the subsequent dissolution announcement sent shockwaves within the French financial realm.

The euro recoiled Monday after a far-right surge in weekend EU polls sparked a general election in France, although analysts are divided on whether the single currency will remain permanently impacted. The euro fell while French stocks and bonds tumbled today, following President Emmanuel Macron's decision to call a snap parliamentary election after being significantly challenged.

European markets reflect some relief on Monday as the second round of the French election concluded with the Eurosceptic National Party falling into third place. However, French PM Emmanuel Macron's decision to dissolve the parliament has already taken a serious toll on the euro's valuation. Post the dissolution announcement, the French financial realm opened to weak bond market statistics. Could this be the beginning of the end for the euro? Stay tuned for updates as the situation unfolds.