Geopolitical optimism over a potential US-Iran ceasefire extension lifts the Euro against the Dollar to 1.1645.
The Euro rose 0.37% against the US Dollar in Monday trading, reaching 1.1645, as markets priced in renewed hopes for a 60-day ceasefire extension between the US and Iran. The potential deal includes discussions on Iran’s uranium enrichment program, easing geopolitical tensions.
Prior to the rally, the EUR/USD pair had stabilized near 1.1600, with traders monitoring Middle East developments closely. A similar geopolitical de-escalation in March had briefly boosted the Euro by 0.5%.
No immediate market reaction beyond the currency move was reported, though risk assets remained supported by the shift in sentiment.