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Euro Holds Firm Above $1.1500 as Hormuz Reopening Hopes Rise

Guavy AI Editorial Team
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EUR
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The Euro (EUR/USD) has held firm above $1.1500 on Tuesday as traders assess developments surrounding US-Iran talks and the possible reopening of the Strait of Hormuz.

Hopes of reopening the key shipping route have sent oil prices sharply lower, with West Texas Intermediate (WTI) falling towards $75.50, its lowest level in three weeks.

US Treasury Secretary Scott Bessent said Washington is in talks with Iran and suggested that an agreement to reopen the Strait could be reached as early as Tuesday or Wednesday.

An announcement on reopening the key shipping route is expected shortly, according to Al Arabiya, citing a high-ranking source.

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