EUR/USD Edges Higher Amid Hawkish Fed and Middle East Tensions

The EUR/USD pair has seen modest gains near 1.1485 in early Asian session trading on Monday.

The potential upside for the major pair may be limited, however, amid the US Federal Reserve's (Fed) hawkish stance and ongoing Middle East tensions.

The Fed raised interest rates by a quarter-percentage point at its September meeting last week, signaling further hikes in the coming months. ECB President Christine Lagarde is set to speak later on Monday, which may provide further insight into the European Central Bank's policy direction.