The currency pair remains near a two-week high amid elevated risks in the Strait of Hormuz supporting the US dollar.
The EUR/USD pair continued its sideways movement in early Asian trading on Tuesday but stayed firmly above the 1.1400 level. The pair remains close to a nearly two-week high reached last week, reflecting cautious market sentiment.
Recent geopolitical tensions in the Strait of Hormuz have bolstered demand for the USD, acting as a counterweight to the euro’s stability. The pair’s consolidation follows a period of limited volatility, with traders awaiting fresh catalysts.
No immediate market reaction was reported, as the pair’s movement remains constrained within its recent range.