Forex
Home›Forex›Major Pairs›EUR/USD slips near 1.1530 as Hormuz uncertainty lifts…
EUR/USD slips near 1.1530 as Hormuz uncertainty lifts USD bid
The euro's move follows reports that Iran rejected US claims about Hormuz opening, while traders await US July jobs data after ADP and ISM Services later Wednesday.
EUR/USD edged lower to around 1.1530 during Asian trading on Wednesday, with the move reflecting uncertainty tied to US-Iran talks weighing on riskier assets such as the euro against the dollar, according to FXStreet.
The outlet cited a report from Iran’s Fars news agency that Iran rejected claims by US Treasury Secretary Scott Bessent and US President Donald Trump that the Strait of Hormuz would open tomorrow under a new deal, with an Iranian official saying discussions with Oman were aimed at setting up an intermediate corridor rather than US participation.
Ongoing Middle East tensions are also supporting safe-haven demand for the greenback, creating a headwind for EUR/USD. FXStreet added that US economic data scheduled for later Wednesday includes ADP Employment and the ISM Services PMI, while attention remains on the US July jobs release on Friday for clues on the labor market and the expected interest rate path.
FXStreet noted that US JOLTS job openings were 7.359 million in June, down from 7.537 million in May and below a 7.4 million market expectation. On the euro’s technical picture, the pair is holding above the Bollinger Bands 20-period simple moving average, but FXStreet said resistance is capped by the upper Bollinger band and the 100-day simple moving average, keeping the broader tone neutral to mildly topside limited.
Latest closeEUR/USD 1.153 ▼0.1%