The euro traded slightly above $1.15, hovering near its highest level since June 16 as easing geopolitical tensions improved risk sentiment. Oil prices tumbled on optimism that diplomatic efforts could end the US-Iran conflict, easing concerns over inflationary pressures. Qatar said mediators were making progress in negotiations, while US Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz could be reached as early as Tuesday or Wednesday. Meanwhile, stronger-than-expected eurozone data continued to support expectations that the European Central Bank could raise interest rates at its next meeting in September. The bloc's economy expanded 0.4% in the second quarter, twice the expected pace and the strongest growth since early 2025, while annual inflation accelerated to 2.9% in July, with both core and services inflation also strengthening.