Geopolitical tensions rise after Iran halts US talks and warns of blocking a key oil transit route, pressuring currency markets.
EUR/USD remains confined to a 1.1580-1.1680 range as escalating geopolitical risks weigh on sentiment. Iran’s decision to suspend negotiations with the US and threaten closure of the Strait of Hormuz has heightened market uncertainty.
The Dollar Index has climbed above 99, reflecting safe-haven demand, while the euro struggles to break out of its recent range. Analysts note the pair has traded within these levels for several sessions, with no clear catalyst for a breakout.
No immediate market reaction was specified, but traders are monitoring developments closely given the strait’s role in global oil supply.