**BREAKING: Euro Holds Above 1.1400 But Under Pressure as US-Iran Tensions Boost Dollar**
The EUR/USD pair is defending the 1.1400 level in Asian trading Wednesday but failing to gain traction as renewed US military strikes on Iran drive safe-haven demand for the greenback. The currency pair remains range-bound as geopolitical risk escalates, with traders increasingly cautious ahead of today’s Federal Reserve FOMC minutes release.
The dollar is benefiting from its traditional safe-haven status as Middle East tensions intensify following fresh US action against Iranian targets. Euro bulls are notably absent despite the pair holding technical support, suggesting underlying weakness in European currency demand. Market participants are now positioning defensively while awaiting clarity from the Fed’s policy meeting minutes, which could provide further directional cues for the pair.
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FXnCO Insight
** Traders should watch 1.1400 as a critical near-term support level—a break below could accelerate euro losses if geopolitical tensions persist or FOMC minutes signal hawkish Fed positioning.
Source: FXStreet