EUR/USD Falls To Around 1.0803 On Cautious Market Sentiment

EUR/USD continued the downward trend that started on Thursday, approaching 1.0830 during Friday’s Asian trading session. The U.S. dollar (USD) remains supported by cautious market sentiment, which may be affected by escalating geopolitical tensions in the Middle East.

Tensions increased after Iran promised retaliation for an Israeli attack on the Iranian embassy in Syria that killed an Iranian soldier. In addition, reports highlighted that Iran has stepped up its threats against the Israeli Embassy in the United States, which also heightened market concerns.

However, the US dollar (USD) came under downward pressure due to weak US (US) employment data on Thursday, providing support for EUR/USD. Neutral comments from several Fed officials may have eased the dollar’s decline.

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