Israel Strike Against Iran Dents Euro -- Market Talk
Dow Jones06-13
0833 GMT - Israel's attack on Iran's nuclear facilities as prompted speculative investors to trim bets on the euro rising against the dollar, ING's Francesco Pesole says in a note.The euro "generally dislikes geopolitical shocks leading to higher energy prices." This provides a trigger for investors to unwind stretched long positions in the euro versus the dollar, or bets on it appreciating. The exchange rate remains overvalued and could extend its fall, he says. The euro falls 0.4% to $1.1536 after hitting a three-and-a-half-year high of $1.1631 on Thursday, according to LSEG. ING expects it could fall back towards $1.14-$1.15. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
June 13, 2025 04:33 ET (08:33 GMT)
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