Geopolitical tensions in the Strait of Hormuz drive safe-haven flows into the USD, pressuring the Euro despite softer oil prices.
The Euro fell against the US Dollar in North American trading as escalating tensions between the US and Iran near the Strait of Hormuz spurred demand for the Greenback. EUR/USD slipped 0.15% to 1.1622, reversing earlier gains amid reports of defensive US strikes in southern Iran and stalled negotiations.