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Forex

Euro Bounces Off Two-Month High Amid Escalating Tensions

Guavy AI Editorial Team
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EUR USD
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The EUR/USD pair reached a two-month high of 1.1613 on August 18, but its upward momentum failed to sustain due to safe-haven demand triggered by rising US-Iran tensions.

A vessel was struck by an unidentified projectile while crossing the Strait of Hormuz, escalating market fears of a further escalation in US-Iran conflicts.

Despite this geopolitical risk premium surge, cooling expectations for a September interest rate hike from the Federal Reserve limited the dollar's upside potential.

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