French bank Societe Generale: If tensions in Iran cool down, the euro may rise further.

Kit Juckes of Credit Agricole CIB in France said in a report that if tensions ease in the Iran war, leading to the reopening of the Strait of Hormuz, the euro could rise further to $1.20. Even if energy prices fall, Credit Agricole CIB still expects the European Central Bank to raise interest rates in June and September, while the Federal Reserve will maintain its rates. "The market has already priced in this expectation, so the impact should not be significant at this point, but it does help make the euro more likely to continue to rise against the dollar." The euro rose 0.4% to $1.1806 after US President Trump hinted at the possibility of further peace talks, according to data from the London Stock Exchange Group. This is the highest level since the conflict began on February 27th.