Euro slips below 1.1550 as US-Iran deal hopes fade

The euro edged below the 1.1550 level during Tuesday trade, as optimism over a quick US-Iran diplomatic breakthrough continued to evaporate. Stalled talks between Washington and Tehran dampened risk appetite and supported the dollar.

Higher crude oil prices added to the headwinds for the single currency. The eurozone's status as a major energy importer makes it sensitive to elevated oil costs, which threaten to exacerbate inflationary pressures and slow growth.

The pair remains under pressure near session lows, with traders monitoring any developments from the nuclear negotiations.