Does it mean that the euro's gains will become smaller when the potential for Le Pen to close the sizeable gap with Macron becomes less?

"Kingsley Jones, chief investment officer at investment advisory Jevons Global, told CNBC's "The Rundown" on Monday that he expected the Euro would "close up" some of its gains as it discounted the potential for Le Pen to close the sizeable gap with Macron."

Source: http://www.cnbc.com/2017/04/23/why-the-euro-is-walking-back-its-post-french-election-spike.html

  • Please format text you are quoting from somewhere as a "Quote" in your questions - it makes the question easier to read. – SteveES Apr 24 '17 at 11:40
  • It is not a common collocation, and the author is quoting those words, which seem idiosyncratic. My guess from context is that it is an analogue of "cinch" as in "to secure": the gains the Euro has made will be "in the bag". – Tᴚoɯɐuo Apr 24 '17 at 13:49
  • Discount means "think to be not very likely" or "to dismiss as not a credible possibility". – Tᴚoɯɐuo Apr 24 '17 at 14:04

A figurative-ish meaning of close up is "to make a source of X unavailable."

A meaning of discount is "to ignore" or "to disregard."

The sentence is saying "the Euro would forgo some of its gains as it ignored the potential for Le Pen to close the sizeable gap with Macron."

The Euro has some gains it could get if it did not ignore this potential, but it is choosing to ignore them and therefore is not taking those gains.

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  • How are you construing "as it discounted"? What does "as" mean there? And can you show some examples where "close up" means "close off", i.e. make something unavailable? – Tᴚoɯɐuo Apr 24 '17 at 17:00
  • "We should close up the Internet in some way." - Donald Trump. (money.cnn.com/2015/12/08/technology/donald-trump-internet) – LawrenceC Apr 24 '17 at 17:40
  • X as Y can mean Y happens while X is happening, or X will happen when Y will happen. – LawrenceC Apr 24 '17 at 17:42

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