# Euro Slumps against Pound and Dollar as European Banking Fears Rise

> The euro fell sharply against sterling and the dollar as fears over the eurozone banking system grew. Shares of Credit Suisse, Societe Generale and several Italian banks were halted, and Italian two-year yields collapsed.

- Date: 2023-03-15 · published 2023-03-15T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/10082-euro-slumps-against-pound-and-dollar-as-european-banking-fears-rise
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of fewer ECB rate hikes and a weaker euro shift currency flows that affect euro-denominated import costs for European feed buyers, while dollar strength tends to weigh on grain prices.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- GBPUSD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2023-03-15 | 1 | -1.7% | -3.5 | Eurozone banking fears, trading halts in several bank shares and collapsing Italian yields drove sentiment-led euro selling on the same day. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-09-28 | [Surging Inflation Fears Stoke Pound Sterling Advance against the Euro and Dollar](https://feedsoft.ai/events/45311-surging-inflation-fears-stoke-pound-sterling-advance-against-the-euro-and-dollar.md) | -0.7% | -1.0% |
| EURUSD | 2017-11-02 | [Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates](https://feedsoft.ai/events/68237-pound-sterling-gbp-plunges-against-the-dollar-usd-and-euro-eur-as-bank-hikes.md) | -0.2% | +2.5% |
| EURUSD | 2022-11-14 | [Dollar Rises Against Euro and Yen Following Fed Commentary](https://feedsoft.ai/events/38896-dollar-rises-against-euro-and-yen-following-fed-commentary.md) | +1.7% | +3.6% |
| EURUSD | 2023-03-15 | [Pound falls vs dollar, rises vs euro on bank woes](https://feedsoft.ai/events/10080-pound-falls-vs-dollar-rises-vs-euro-on-bank-woes.md) | +0.4% | +1.7% |
| EURUSD | 2022-07-05 | [Euro slides to 20-year low against the dollar as recession fears build](https://feedsoft.ai/events/10286-euro-slides-to-20-year-low-against-the-dollar-as-recession-fears-build.md) | -3.1% | -1.3% |
| DXY | 2025-07-31 | [Pound Sterling slumps against US Dollar as traders pare Fed dovish bets](https://feedsoft.ai/events/24023-pound-sterling-slumps-against-us-dollar-as-traders-pare-fed-dovish-bets.md) | -0.7% | -0.6% |
| DXY | 2022-09-01 | [Pound Slumps to Fresh Two-year Lows against Dollar](https://feedsoft.ai/events/40290-pound-slumps-to-fresh-two-year-lows-against-dollar.md) | +0.8% | +3.2% |
| DXY | 2017-11-02 | [Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates](https://feedsoft.ai/events/68237-pound-sterling-gbp-plunges-against-the-dollar-usd-and-euro-eur-as-bank-hikes.md) | -0.1% | -1.5% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/eur/18355-breaking-pound-to-euro-jumps-as-eurozone-banking-fears-rise

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.