The euro eased on Wednesday on geopolitical uncertainties and economic divergence. US job openings increased by the most in five years in April, though EBC Financial Group is cautious about the outlook.

US Central Command said Tuesday that it had defeated multiple Iranian ballistic missiles and drones and launched defensive strikes. But oil prices remained below the $100 threshold.

Iran is reportedly reviewing an agreement proposed by the Trump administration to end the war but has not communicated with Washington for a few days, Iranian media reported

Euro zone inflation rose to an estimated 3.2% in May, driven by double-digit energy price growth, official data showed. Notably, services inflation also rose to 3.5% from 3%.

Markets are currently pricing in a 94% chance of the ECB hiking its key interest rate by 25bps at its meeting later this month, according to LSEG data. That would mark its fresh tightening cycle.

PMI data showed the eurozone taking an increasingly severe toll from the war in the Middle East. Output has now contracted for two successive months; job losses are more widespread.

The single currency was locked in a short-term horizontal trading range with prices compressing tightly around the 1.16289 pivot line. The path of least resistance is a moderate rebound.

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