EUR/USD breaks below 1.1550 due to risk-off sentiment
EUR/USD halts its four-day winning streak, pulling back from 1.1631, the highest since October 2021, and currently trading around 1.1530 during the Asian hours on Friday.
The pair depreciates as the US Dollar (USD) receives support as traders move toward improved safe-haven demand, sparked by rising tensions in the Middle East.
Israel attacked dozens of sites across Iran to dismantle its nuclear program. Israeli Minister of Defense Israel Katz said that Israel may face a missile and drone attack following Israel's preemptive attack on Iran. Katz declared a special state of emergency in the country, per Axios.
Moreover, White House Secretary of State Marco Rubio released a statement that “Tonight, Israel took unilateral action against Iran. We are not involved in strikes against Iran, and our top priority is protecting American forces in the region.”
“President Trump and the Administration have taken all necessary steps to protect our forces and remain in close contact with our regional partners.” Let me be clear: Iran should not target US interests or personnel,” Rubio added.
Source: FXStreet