Euro could slide 10 percent on Le Pen victory - JPMorgan

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Marine Le Pen, French National Front (FN) political party leader and candidate for the French 2017 presidential election, attends the two-day FN political rally to launch the presidential campaign in Lyon, France February 5, 2017.

Le Pen's campaign promises indicate that she is "convinced that Trump and the Brexit vote in Britain point to the return of nationalism, while recent domestic events in France's unpredictable election race could also help her", The Local reports. Should the feisty Frenchwoman enter the Elysee Palace, the European Union would be hit with a potentially fatal blow - as she has promised a "Frexit" referendum to leave the E.U. France and Germany make up the core of the bloc and it is hard to see how it could possibly survive in its current form if France chose to leave.

Ms Le Pen was greeted with loud cheers after she said immigrants without papers would be denied free health care and foreigners who committed crimes would be expelled. "There will be no other laws and values in France but French", she said. "They wanted it to be a success, but it turned out to be very bad", she told the several-thousand-strong crowd.

Le Pen has been leading early polls - which place her at the top of the April 23 first-round vote - but is predicted to fall short of winning the overall election on May 7.

The main driver of euro weakness comes from peripheral spreads widening, but this is now also joined by a Germany-France core spread following Front National leader Marine Le Pen's laying out a slightly more practical stance on "Frexit" over the weekend and after the seeming collapse of the Francois Fillon campaign.

Among Le Pen's "commitments" unveiled Saturday: No more membership in NATO's integrated command. "I honestly think he will not succeed in converting his purely marketing product into electoral votes", Marion Marechal-Le Pen said.

"This presidential election puts two opposite proposals", Le Pen said in her manifesto. She said that she would travel to Brussels to discuss different subjects like borders and currency, as she is sure that other countries will follow France's initiative.

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She has worked to rid the FN of its more extremist, anti-Semitic fringe since taking over from her father Jean-Marie Le Pen, who has repeatedly referred to the Nazi gas chambers as a "detail" of history.

Conservative candidate Francois Fillon is battling a financial scandal over the taxpayer-funded job of his Welsh wife Penelope.

"Ten thousand pounds for Marine Le Pen to win, from someone who walked into one of our south London betting shops".

One of her proposals if she is elected President is to start a referendum on the European Union in the subsequent six months from the election.

The hard left's candidate, Jean-Luc Melenchon, is given about 10% in the same polls.

The Socialist Party recently chose radical leftist Benoit Hamon as its candidate.

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