EUR/USD retreats as Israel-Iran conflict roils mar
EUR/USD retreats as Israel-Iran conflict roils markets, ends 4-day gain
The euro takes a hit despite steady EU inflation data as geopolitical tensions boost the US dollar.
Israeli strike on Iran sparks safe-haven inflows into the dollar; EUR/USD falls from 1.16 to 1.1488 intraday.
Tehran calls off nuclear talks; risk sentiment worsens, overshadowing soft US inflation.
Eurozone industrial production contracts sharply; German CPI holds steady at 2.1%, but inflation in France and Spain falls below ECB target.
EUR/USD ends four-day winning streak, ends losses on Friday as risk appetite weakens after Israel launches attack on Iran, boosting the US dollar’s (USD) safe-haven appeal. At the time of writing, the pair is trading around 1.1530, down 0.36%.
Sentiment took a turn for the worse after breaking news reported an Israeli attack that targeted Iranian militias, installations and nuclear facilities. As a result, Iran retaliated by sending more than a hundred drones and canceling the sixth round of nuclear talks, Tehran Times reported.
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