The EUR/USD currency pair saw modest gains, trading near 1.1385 during Asian hours on Tuesday, as investors awaited the upcoming US Consumer Price Index (CPI) inflation data. According to FX Street, this cautious upward movement reflects market anticipation around the inflation report.
However, FX Street also noted that the pair’s potential upside remains limited due to renewed US military strikes against Iran, which have added geopolitical uncertainty to market dynamics. The pair had previously hovered around 1.1350 before this slight increase.
For Japanese investors, these developments are closely watched as they influence global risk sentiment and can impact the yen’s safe-haven status amid heightened US-Iran tensions and inflation concerns.