French presidential candidate Jean Luc Melanchon (center), has surged in the polls, turning the turning the topsy-turvey campaign into a four-way race. Photo: NurPhoto, Julien Pitinome

Asia Unhedged has been warning that France may become unhinged.

As Bloomberg reports today, the risk of an unexpected outcome continues to grow, with polls for the first round of voting now showing four candidates within the margin of error.

The new development bodes well for Marine Le Pen, whose threats of abandoning the euro represent the greatest uncertainty for markets. Despite being further outside of the mainstream than her opponents, Le Pen is the one candidate with a strong, loyal base of supporters.