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EUR/USD slips as risk-off mood lifts oil and the dollar
EUR/USD traded between 1.1360 and 1.1400, with Brent moving above $100 after the latest Middle East peace proposal was rejected.
FXStreet reports that the euro slipped marginally against the US dollar on Monday, as oil prices rose on geopolitical developments while the greenback stayed supported by higher US Treasury yields.
The outlet said EUR/USD wavered between one-month lows around 1.1360 and the 1.1400 area, with investor risk appetite subdued at the start of the week.
FXStreet attributed oil’s pickup to reports that US President Donald Trump rejected Tehran’s latest proposal to pause hostilities and reopen the Strait of Hormuz, a backdrop that contributed to Brent climbing above the $100.0 barrier.
On the dollar side, FXStreet pointed to strong US macroeconomic data and rising yields on the 10- and 30-year Treasury notes, noting that EUR weakness also reflects bets tied to upcoming Fed rate hikes.
Latest closeBrent $97.47 ▼8.6%|EUR/USD 1.139 ▲0.1%