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fxAug 4, 2026, 3:51 PM

Euro Holds Above 1.1500 on Hormuz Hopes, Soft US Jobs Data

The euro remained firm above the 1.1500 level against the dollar on Tuesday, supported by optimism over the possible reopening of the Strait of Hormuz and softer US jobs figures.

EURUSD

The EUR/USD pair retained its footing above the 1.1500 mark during Tuesday's session. Market participants weighed the potential for reduced geopolitical tensions following US-Iran discussions, which could lead to the reopening of the strategic Strait of Hormuz.

Sentiment was also underpinned by weaker-than-expected US employment data, which tempered expectations for aggressive Federal Reserve policy tightening. The combination of easing supply disruption fears and a less hawkish dollar backdrop allowed the euro to hold its ground.

Traders now look ahead to further developments in the US-Iran talks and any additional US economic releases for fresh directional cues.

Source: FXStreet Forex News