EUR/USD dipped to around 1.1480 in early Asian trading Monday as the dollar strengthens following President Trump’s decision to join Israel’s war on Iran, escalating the conflict. Over the weekend, US forces struck three Iranian nuclear sites; Fordo, Natanz, and Isfahan. Trump claimed the facilities were “totally obliterated” and warned of harsher attacks unless Iran seeks peace. The escalation supports safe-haven demand for the dollar, pressuring EUR/USD.
Meanwhile, the ECB cut rates for the eighth time this year but signaled a pause in July. President Lagarde said cuts are nearing an end, which may help limit euro losses.
Resistance is located at 1.1530, while support is seen at 1.1450
Meanwhile, the ECB cut rates for the eighth time this year but signaled a pause in July. President Lagarde said cuts are nearing an end, which may help limit euro losses.
Resistance is located at 1.1530, while support is seen at 1.1450
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