EUR/USD: Safe haven Dollar holds gains – Rabobank Commerzbank’s Thu Lan Nguyen notes that negotiations between the United States and Iran have failed while Washington threatens a blockade of the Strait of Hormuz, risking a sharper global shortage of Oil and gas. Despite this, Brent trades just above 100 USD and EUR/USD below 1.17, suggesting markets still expect eventual de-escalation and thus keep risk premia contained.