Cooling Middle East tensions and softer US employment figures weigh on the USD, lifting the euro near 1.1555.
The EUR/USD pair climbed to 1.1555 in Asian trading on Thursday, driven by a softer US dollar. Weaker-than-expected US economic data, including a 44K rise in private-sector employment in July—below the 70K consensus—pressured the greenback.
June’s private-sector jobs gain was revised to 98K, while the ISM Services PMI edged up to 54.1 in July, missing forecasts of 54.5. Geopolitical risks eased after reports of progress in US-Iran talks over the Strait of Hormuz, boosting risk sentiment and supporting the euro.
Traders await US initial jobless claims data later Thursday and Friday’s jobs report for further direction. Stronger-than-expected figures could revive Fed rate-hike bets, capping the dollar’s losses.