The euro is consolidating below its highest level since June 17 against the dollar, as safe-haven demand for the greenback rises amid escalating tensions in the Middle East. The EUR/USD pair traded just above 1.1550 in Asian hours, after hitting a fresh multi-week high on Friday following a much weaker-than-expected US jobs report that showed a loss of 23,000 jobs in July against forecasts for an 80,000 gain. The dollar index rebounded from its own June 17 low as Iran warned that a potential deal with Oman on a safe shipping route through the Strait of Hormuz would not immediately reopen the waterway, while Houthi militants claimed an attack on a Saudi refinery and a tanker came under fire in the strait. Investors now await US consumer inflation data due Wednesday for further clues on the Federal Reserve's policy path.
