# Euro clobbered on Turkey turmoil as investors scramble for safety

> The euro fell to its lowest level in more than a year after a Financial Times report that the ECB was concerned about exposure of Spanish, Italian and French banks to Turkey. The Turkish lira hit a record low amid a rift with the United States, and investors moved into the dollar, yen and Swiss franc.

- Date: 2018-08-10 · published 2018-08-10T12:00:00.000Z
- Category: macro · region Turkey · magnitude medium
- Page: https://feedsoft.ai/events/11061-euro-clobbered-on-turkey-turmoil-as-investors-scramble-for-safety
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Safe-haven demand lifted the dollar and pressured the euro, while emerging-market currencies sold off on risk aversion, shifting cross-currency values for dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2018-08-10 | 1 | -1.4% | -3.3 | Directly ties the euro's drop on 2018-08-10 to the FT report on ECB concern over bank exposure to Turkey, which triggered a flight to the dollar, yen and Swiss franc. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-01-24 | [Dollar dips vs yen as investors reach for safe havens on virus scare](https://feedsoft.ai/events/55319-dollar-dips-vs-yen-as-investors-reach-for-safe-havens-on-virus-scare.md) | +0.2% | +1.3% |
| DXY | 2022-05-19 | [Euro dollar: What does it mean for investors as the pair nears parity?](https://feedsoft.ai/events/41611-euro-dollar-what-does-it-mean-for-investors-as-the-pair-nears-parity.md) | -0.9% | +0.5% |
| DXY | 2023-02-02 | [Euro, sterling dip as investors assess rate outlook](https://feedsoft.ai/events/37536-euro-sterling-dip-as-investors-assess-rate-outlook.md) | +1.3% | +2.1% |
| DXY | 2026-08-28 | [Euro Steady as Investors Await Warsh’s Jackson Hole Speech](https://feedsoft.ai/events/18101-euro-steady-as-investors-await-warsh-s-jackson-hole-speech.md) | -0.2% | +1.7% |
| DXY | 2024-11-27 | [Euro's bruising leaves global investors on edge \| Reuters](https://feedsoft.ai/events/27620-euro-s-bruising-leaves-global-investors-on-edge-reuters.md) | -0.5% | +0.7% |
| EURUSD | 2022-05-19 | [Euro dollar: What does it mean for investors as the pair nears parity?](https://feedsoft.ai/events/41611-euro-dollar-what-does-it-mean-for-investors-as-the-pair-nears-parity.md) | +1.6% | +0.4% |
| EURUSD | 2023-02-02 | [Euro, sterling dip as investors assess rate outlook](https://feedsoft.ai/events/37536-euro-sterling-dip-as-investors-assess-rate-outlook.md) | -1.7% | -2.9% |
| EURUSD | 2026-08-28 | [Euro Steady as Investors Await Warsh’s Jackson Hole Speech](https://feedsoft.ai/events/18101-euro-steady-as-investors-await-warsh-s-jackson-hole-speech.md) | -0.3% | -2.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/08/10/forex-dollar-in-focus-ruble-turkish-lira-downtrodden.html

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