Euro Rises to 6-Week High

2026-04-10 10:14 By Joana Ferreira 1 min. read

The euro traded above $1.17, reaching its highest level since late February and heading for a nearly 1.5% weekly gain against the US dollar, amid optimism over a potential Russia-Ukraine peace deal and as investors adopted a cautious wait-and-see approach ahead of the US-Iran ceasefire negotiations this weekend.

Ukraine’s lead negotiator signaled progress in talks with Russia, suggesting a resolution to the conflict could be achieved sooner than expected.

Meanwhile, US and Iranian negotiators are set to meet on Saturday, though tensions remain elevated.

Tehran continues its near-total blockade of the Strait of Hormuz, while US President Trump struck a dual tone, expressing optimism about a possible deal but later warning Iran over new fees imposed on ships transiting the vital waterway.

On the monetary policy front, rising oil prices stoked inflation fears, leading markets to price in a more hawkish ECB, with traders expecting at least two rate hikes by end-2026.



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