EUR/USD falls to 1.1400 on US-Iran escalation
The EUR/USD pair has declined to around 1.1400 due to heightened tensions in the Middle East.
The US military launched strikes on Iran, prompting retaliatory attacks from the Islamic Revolutionary Guard Corps.
This escalation could boost the US Dollar as a safe-haven currency, acting as a headwind for the major pair.
The ECB is expected to raise interest rates twice more over the next year to contain the fallout from the Iran war on energy prices.