The currency pair trades near a two-week high but remains capped by safe-haven dollar strength amid Strait of Hormuz risks.
The EUR/USD pair remains subdued in early Asian trading, consolidating below the 1.1450 level. Geopolitical tensions in the Strait of Hormuz have bolstered demand for the safe-haven USD, limiting the pair’s upside despite its proximity to a nearly two-week high reached last week.
Spot prices have oscillated in a narrow range, reflecting mixed fundamental signals. The pair’s recent strength followed a period of dollar weakness, though escalating Middle East risks have curbed further gains. Market participants await fresh catalysts to drive direction.
No immediate market reaction was reported, with traders adopting a cautious stance amid the uncertain backdrop.