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fxJun 9, 2026, 3:48 PM

EUR/USD Rises as Middle East Tensions Ease, US CPI in Focus

The euro strengthened against the US dollar on Tuesday as signs of de-escalation in the Middle East reduced safe-haven demand for the greenback, while lower oil prices further supported the single currency.

EURUSD

EUR/USD traded higher on Tuesday, buoyed by tentative signs that the Middle East conflict may be de-escalating. This reduced safe-haven flows into the US dollar, allowing the euro to gain ground.

Lower oil prices also contributed to the euro's strength, as the Eurozone is a major importer of energy. Cheaper crude eases cost pressures for the bloc, supporting the common currency.

Market attention now shifts to the upcoming US Consumer Price Index (CPI) data, which could provide further direction for the pair. Traders are watching for inflation signals that may influence Federal Reserve policy.

Source: FXStreet Forex News