EUR/USD Holds Higher Despite Renewed US-Iran Hostilities, Hormuz Closure
The euro held higher against the US dollar on Monday despite renewed US-Iran hostilities and Iran's continued Strait of Hormuz closure, as rising oil prices lifted inflation expectations, supporting the euro even while safe-haven demand kept the US dollar broadly resilient. In Monday's G10 trading, the euro remained mostly bullish among other currencies. The next mild highlights for the euro will be the Wholesale Prices for June, due on Tuesday. For the USD, the major events will be the inflation data for June and testimony of Federal Reserve Chair Kevin Warsh, also due on Tuesday. The EUR/USD pair was trading at 1.14297, with a 0.13% gain during Monday's American session at the time of writing.
The euro held higher against the US dollar on Monday despite renewed US-Iran hostilities and Iran's continued Strait of Hormuz closure, as rising oil prices lifted inflation expectations, supporting the euro even while safe-haven demand kept the US dollar broadly resilient.
In Monday's G10 trading, the euro remained mostly bullish among other currencies.
The next mild highlights for the euro will be the Wholesale Prices for June, due on Tuesday.
For the USD, the major events will be the inflation data for June and testimony of Federal Reserve Chair Kevin Warsh, also due on Tuesday.
The EUR/USD pair was trading at 1.14297, with a 0.13% gain during Monday's American session at the time of writing.