EUR/USD declined toward 1.0600 in the early Asian session on Friday but managed to recover to the 1.0650 area.
EUR/USD recovered toward 1.0650 in the European session on Friday. Investors could stay away from risk-sensitive assets ahead of the weekend. Geopolitical headlines could continue to drive the action in financial markets. In the absence of high-tier data releases, investors will keep a close eye on headlines surrounding the Iran-Israel conflict. Reports of Israeli missiles striking Iran triggered a flight to safety in the early trading hours of the Asian session on Friday.
It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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