The Euro slipped further against the dollar on Tuesday under $1.18 mark amid a gloomy ZEW Economic Sentiment Survey highlights the negative impact of the US-Iran war. Data released by the ZEW Institute revealed that institutional investors' sentiment about the German economy has plunged to -17.2 in April, its weakest reading since December 2022, well below the -5 forecast, following a -0.5 reading in March. The feeling about the current economic situation also declined, to -73.7 in April, from -62.9 in March. Likewise, the Eurozone Economic Sentiment has dropped to -20.4, also its weakest reading since December 2022. The market was expecting a moderate improvement to -3.6 from last month's -8.5 print. EURUSD pair is currently quoting at $1.1790, down 0.158% on the day and off a recent two month high. Meanwhile, a slightly firmer dollar overseas amid escalating Middle East tensions and the European Central Bank's cautious stance is also weighing on the pair. President Christine Lagarde has warned that the Eurozone's economic outlook 'remains deeply uncertain' and that the Middle East conflict, including the Strait of Hormuz blockade, has disrupted Europe's energy security, calling the supply shock 'enormous.' Meanwhile, on the NSE, EUR/INR futures are hovering above 110, up 0.28% on the day.