EUR/USD Holds Above 1.1700 Amid Rising Iran Tensions, US NFP Looms

EUR/USD is holding above the psychologically key 1.1700 support on May 9, 2026, capped by renewed Iran tensions boosting dollar safe-haven demand, with traders bracing for US Nonfarm Payrolls data expected at 190,000 jobs and 3.7% unemployment. The rally began May 6 when the pair broke above 1.09 for the first time since late March, touching 1.0915 on US-Iran peace hopes, gaining 0.6% amid Stoxx 600 +0.8% and Brent below $87/bbl. It accelerated May 7 with another 0.6% rise to a two-week high, Stoxx +1.2%, and Brent under $72/bbl, before surpassing 1.1700 on May 8.