0718 GMT - The euro recovers only modestly against the dollar after the U.S. and Iran agreed an interim peace deal as the implications of the agreement and Federal Reserve's reaction are unclear, Commerzbank's Thu Lan Nguyen says. Shipping through the Strait of Hormuz won't return to normal straight away, she says in a note. It is uncertain how quickly this will happen and whether it will be reopened on a lasting basis. An end to the conflict doesn't contradict U.S. interest-rate rise expectations following strong U.S. data although the Federal Reserve might not agree with this assessment, she says. The euro rises 0.3% to $1.1605 after earlier reaching a 10-day high of $1.1622 but remains below preconflict levels, according to LSEG. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

June 15, 2026 03:18 ET (07:18 GMT)

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