EUR/USD struggles as risk aversion rises following the failure of US–Iran talks
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EUR/USD weakens on risk-off sentiment, which could be attributed to the United States (US)-Iran peace talk failure. The pair is trading around 1.1670 during the Asian hours after opening at a gap down on Monday. US Vice President JD Vance said Washington and Tehran failed to reach a peace agreement in Islamabad following 21 hours of talks. Vance also noted negotiations had yet to produce a mutually acceptable deal, emphasizing the need for firm assurances that Iran will not pursue nuclear weapons. Meanwhile, US President Donald Trump said the US would begin “blockading” all ships entering or leaving the Strait of Hormuz. The US Central Command (CENTCOM) said forces will begin blockading all maritime traffic entering and exiting Iranian ports at 10 AM ET (14:00 GMT) on Monday. Iran’s Parliament Speaker Mohammad Bagher Ghalibaf said despite “constructive initiatives,” the US failed to gain the Iranian delegation’s trust, leaving the decision with Washington. Iran’s Revolutionary Guard (IRGC) warned that any military vessels approaching the Strait of Hormuz would violate the ceasefire and face a decisive response. Euro FAQs The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its…
Filed under: News - @ April 12, 2026 11:29 pm