Euro Jumps Above $1.15 Amid Oil Price Plunge and Iran Talks

The euro has reached its highest level since June 16, trading just above $1.15 as improving risk sentiment follows a sharp decline in oil prices.

Crude oil fell on hopes of a US-Iran agreement to reopen the Strait of Hormuz after President Donald Trump announced fresh talks with Tehran would begin on Monday, easing fears of a broader Middle East conflict.

The drop in oil prices led money markets to modestly scale back expectations for further European Central Bank tightening, although a rate hike by September remains largely priced in.

The eurozone economy expanded 0.4% in the second quarter, beating forecasts of 0.2% and marking its fastest growth since early 2025.