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Forex

EUR/USD Slumps Amid Escalating Middle East Tensions

Guavy AI Editorial Team
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EUR
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The EUR/USD pair weakened to near 1.1515 on Friday morning in Asia as risk-off sentiment and fears of escalating conflict in the Middle East weighed on the Euro.

The softening of the Euro was attributed to concerns over prolonged conflicts in the region, particularly following Iran's warning that the United States will face consequences for killing Iranian civilians.

Additionally, Saudi Arabia and 13 other countries announced a coalition to safeguard freedom of navigation through strategic waterways, which further contributed to market unease.

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