The currency pair climbs as geopolitical optimism offsets caution ahead of key US jobs data later today.
The EUR/USD pair advanced to 1.1730 in early Asian trading, extending gains above 1.1700. Sentiment improved on reports of progress toward a US-Iran peace agreement, easing broader market tensions.
Prior to the move, the pair had traded near 1.1690, with investors balancing geopolitical developments against expectations for the US Nonfarm Payrolls report. Analysts forecast a print of 180,000 jobs added in August, down from July’s 187,000.
Markets remain cautious as the NFP release approaches, with potential volatility expected later in the session.