European Currencies Decline Amid Rising Geopolitical Risks

European currencies, led by the euro and pound, are under pressure as rising geopolitical tensions (including a partial closure of the Strait of Hormuz) and higher energy prices boost safe‑haven demand for the US dollar. EUR/USD failed to sustain above the 1.1800–1.1830 zone and faces further corrective downside unless global risk sentiment improves or the dollar weakens. GBP/USD is likewise sliding toward key support with technical risks for deeper losses. Near‑term market direction will be driven by incoming macro releases and central bank commentary, which could either intensify the bearish trend or prompt short corrective rebounds.