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fxJun 16, 2026, 12:09 AM

EUR/USD Rises to 1.1590 on Strait of Hormuz Deal

The euro edged higher to near 1.1600 in early Asian trade on Tuesday, supported by a US-Iran deal to reopen the Strait of Hormuz that boosted demand for riskier assets.

EURUSD

The EUR/USD pair traded around 1.1590 during the early Asian session on Tuesday, gaining positive momentum after a breakthrough in US-Iran talks led to an agreement to reopen the Strait of Hormuz.

The deal helped drive a broader risk-on rally, lifting the euro against the US dollar. Traders are now watching for further cues on the sustainability of the uptick.

No additional economic data or central bank comments were cited in the initial move.

Source: FXStreet Forex News