Forex News: Euro Climbs Against Majors

Euro Climbs Against Majors

(RTTNews) - The euro firmed against its major counterparts in the New York session on Friday, as risk sentiment improved after U.S. President Donald Trump delayed decision on joining the Israel-Iran conflict.

The White House said that Trump will delay the decision on involvement in the Israel-Iran conflict for two weeks.

"Based on the fact that there's a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks." White House Press Secretary Karoline Leavitt said.

Diminishing hopes of imminent rate cuts from the Federal Reserve further underpinned sentiment.

The euro climbed to a 3-day high of 1.1543 against the greenback and an 8-day high of 0.9424 against the franc. The currency may find resistance around 1.18 against the greenback and 0.95 against the franc.

The euro firmed to near a 1-year high of 168.31 against the yen and near a 2-month high of 0.8567 against the pound, from an early low of 167.11 and a 3-day low of 0.8526, respectively. The currency is poised to find resistance around 171.00 against the yen and 0.87 against the pound.

The euro advanced to a 1-week high of 1.7881 against the aussie, more than 2-month high of 1.9327 against the kiwi and a 2-month high of 1.5850 against the loonie. The next possible resistance for the currency is seen around 1.82 against the aussie, 2.00 against the kiwi and 1.60 against the loonie.

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