EUR/USD Holds at 1.1629 as Dollar Gains on Iran Tensions and Strong US Jobs Data
Updated
Updated · Action Forex · Jun 3
EUR/USD Holds at 1.1629 as Dollar Gains on Iran Tensions and Strong US Jobs Data
3 articles · Updated · Action Forex · Jun 3
Summary
EUR/USD stayed under pressure at 1.1629 on Wednesday, with traders favoring the dollar ahead of the ADP report and Friday’s non-farm payrolls.
US-Iran tensions boosted safe-haven demand after Centcom said Iran launched ballistic missiles toward neighboring states and US forces struck targets on Qeshm Island.
Elevated energy prices from the conflict have stoked inflation concerns, reinforcing expectations that US interest rates could stay higher for longer.
US labor data added support for the dollar after April job openings hit their highest level in nearly two years and layoffs declined, underscoring economic resilience.
Technical signals point to further near-term weakness, with EUR/USD trading in a 1.1605-1.1654 range and downside targets at 1.1585 and 1.1555.