The Euro climbs against the US Dollar amid reduced safe-haven demand as geopolitical tensions ease and equities rally.
The Euro (EUR) advanced 0.36% to 1.1410 against the US Dollar (USD) in European trading on Monday, driven by a revival in risk-on sentiment. The US Dollar Index (DXY) fell 0.25% to 101.20 as investors shifted away from safe-haven assets.
S&P500 futures rose nearly 1% to 7,485, reflecting improved market sentiment. The pause in US-Iran military aggression over the weekend contributed to the risk rally, with US officials indicating a temporary halt to strikes.
Investors now await the Federal Reserve’s policy announcement on Wednesday, where rates are expected to remain unchanged at 3.50%-3.75%. Fed Chair Kevin Warsh’s press conference is anticipated to have minimal market impact.