EUR/USD Retreats from Highs Amid Delayed Iran Deal Announcement
The EUR/USD price has retreated from its earlier highs following the delayed announcement of a US-Iran agreement, which had sparked hopes for lower oil prices and a weaker dollar.
Markets had initially reacted positively to reports of Washington and Tehran edging closer to an agreement, leading to a decline in the greenback and a rise in precious metals.
However, as the anticipated announcement failed to materialise, the dollar rebounded, and investors became increasingly cautious ahead of key US data releases, including Friday's non-farm payrolls report and next week's CPI reading.
The EUR/USD forecast remains uncertain due to the possibility of a deal still providing support for broader risk sentiment. However, if oil prices spike again, the pair is likely to fall alongside risk.