The Euro retreated from a weekly high of 1.1590 USD amid shifting expectations over a potential US-Iran nuclear agreement.
The Euro dipped to 1.1565 USD on Friday, easing from its weekly high of 1.1590 USD as investors assessed the likelihood of a US-Iran deal. The currency had strengthened earlier in the week on broader dollar weakness but faced pressure from geopolitical developments.
Prior to the pullback, the EUR had climbed nearly 0.5% against the USD, supported by softer US economic data and expectations of a less aggressive Federal Reserve. The pair remains within a tight range observed over the past month, with traders balancing risk sentiment and central bank policy outlooks.
Market reaction was muted, with limited volatility as traders await further clarity on the US-Iran negotiations and upcoming economic releases.