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fxJul 23, 2026, 12:35 PM

ECB Holds Rates, Middle East Tensions Push EUR/USD to 1.1385

The European Central Bank left its key interest rates unchanged, while escalating Middle East tensions boosted safe-haven demand for the US dollar, pushing EUR/USD to around 1.1385 on Thursday.

EURUSD

The European Central Bank held its key interest rates steady at its latest meeting, a decision that was widely anticipated by markets.

Meanwhile, rising geopolitical tensions in the Middle East increased demand for the US dollar as a safe-haven asset. This combination weighed on the euro, sending the EUR/USD pair to trade near 1.1385 during the Thursday session.

Source: FXStreet Forex News