Earlier today, we said that as more sellside commentary on today’s startling German election result came out, the knives would be out for the Euro. Sure enough, that’s precisely what happened, and nobody captures the sour mood better than SocGen’s FX strategist Kit Juckes who writes that “if the election of President Macron suggested to anyone that populism isn’t a threat to EU, then today’s vote is a wake-up call.”