EUR/USD Falls for Third Week Amid Ongoing Oil Price Volatility

The EUR/USD saw a mild rebound on Friday, but still fell for the third consecutive week as the US dollar and bond yields rallied across the board.

The recovery came after reports emerged that the US and Iran were potentially resuming talks, causing oil prices to fall back with Brent crude moving below $100 per barrel.

This relieved pressure on currencies of economies heavily reliant on oil imports, including the Japanese yen, euro, and British pound.

Investors booked profits on short EUR/USD positions ahead of the weekend, contributing to the small rebound.

Looking ahead, investors will closely watch oil prices for signs of a possible resumption of US-Iran talks, which could lead to the reopening of the Strait of Hormuz.