Following reports of a ceasefire between Israel and Iran, EUR/USD has surged past the 1.16 mark. According to President Trump, both nations will halt operations for a period of 12 hours, marking an effort to de-escalate tensions. This move has spurred optimism in the markets, leading to a favorable trading environment for the Euro against the dollar. Market participants will be keen to assess how this development affects overall currency dynamics. Will this surge continue, or are there underlying risks that traders should consider?