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fxAug 10, 2026, 1:36 AM

Euro Consolidates Below June 17 High as Middle East Tensions Boost Dollar

EUR/USD trades just above 1.1550 during Asian hours, holding below its strongest level since June 17. Safe-haven flows into the dollar amid Middle East concerns are capping the pair's upside.

EURUSD

The euro opened the week on a subdued note against the dollar, with EUR/USD hovering near 1.1550 in Asian trading on Monday. The pair remains within striking distance of a fresh high not seen since June 17, which it reached following disappointing US payrolls data.

Last week's weaker-than-expected jobs report pushed the dollar lower, fueling the euro's rally. However, the pair's momentum has stalled as rising geopolitical tensions in the Middle East revive demand for the safe-haven greenback.

Investors now await further developments on both the macroeconomic and geopolitical fronts to gauge the next direction for the currency pair.

Source: FXStreet Forex News