Euro Stuck Below June Highs Amid Mideast Tensions

The euro is stuck in a narrow trading range, consolidating below its recent high of 1.0916 set on June 17.

This consolidation is due to rising tensions in the Middle East, which have boosted demand for the US dollar as a safe-haven asset.

Market participants are weighing the differing monetary policy paths of the Federal Reserve and the European Central Bank, with the Fed signaling a potential rate cut in September and the ECB already cutting rates in June.