Euro Retreats From Six-Week High Amid Ongoing US-Iran Tensions

The euro retreated from its six-week high against the US dollar on Friday as traders took profits and the greenback recovered amid ongoing military exchanges between the United States and Iran.

Investors are awaiting the release of July inflation data from the eurozone, which is expected to play a key role in shaping expectations for future European Central Bank interest rate decisions.

The annual eurozone Consumer Price Index is due at 09:00 GMT, with market expectations pointing to an acceleration of annual inflation to 2.9% in July from 2.8% in June, while core inflation is expected to remain unchanged at 2.4%.