0746 GMT - The euro is likely to recover slowly versus the dollar if the U.S. and Iran reach a deal soon to resolve the conflict, Commerzbank's Michael Pfister says in a note. A key point to consider is whether any deal would be stable enough to guarantee the lasting opening of the Strait of Hormuz, he says. "Given the recent hostilities, I have my doubts about this, so I would not celebrate wildly even if a provisional agreement were reached." Commerzbank therefore expects only a gradual recovery in the euro with the currency reaching $1.16 by the end of the month. The euro is last up 0.2% at $1.1559. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
June 11, 2026 03:46 ET (07:46 GMT)
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