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fxJul 6, 2026, 1:08 AM

Euro Consolidates Below Mid-1.1400s as Hormuz Risks Support USD

EUR/USD trades in a narrow band below mid-1.1400s during Asian session, with safe-haven demand for the dollar underpinned by geopolitical risks in the Hormuz region.

EURUSD

EUR/USD started the new week on a subdued note, oscillating in a tight range below the mid-1.1400s during the Asian session. Spot prices remain within striking distance of a nearly two-week high touched last Thursday, supported by mixed fundamental factors.

The safe-haven US dollar finds support from ongoing geopolitical tensions in the Hormuz region, which limits any significant upside for the euro. Traders are now watching for further catalysts to break the consolidation phase.

No major eurozone or US data releases are scheduled for today, keeping the pair range-bound in the near term.

Source: FXStreet Forex News