# It took Turkey to send EUR/USD to new 2018 lows - Forex Crunch

> EUR/USD fell well below 1.1500 to its lowest level in three months as the Turkish political and currency crisis weighed on markets. The lira weakened after the US sanctioned two Turkish ministers, and a Financial Times report on ECB concern over European bank exposure to Turkey triggered the euro's drop.

- Date: 2018-08-10 · published 2018-08-10T12:00:00.000Z
- Category: macro · region Turkey · magnitude medium
- Page: https://feedsoft.ai/events/11067-it-took-turkey-to-send-eur-usd-to-new-2018-lows-forex-crunch
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

The combined Turkey and US tensions strengthened the dollar against the euro, pressuring dollar-priced commodities and raising import costs for euro-zone buyers.

## 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 | Identifies the Turkish crisis, US sanctions on Turkish ministers and the FT report on ECB bank-exposure worries as the trigger of the EUR/USD break lower on the day. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | +0.7% | +1.9% |
| DXY | 2021-03-04 | [EUR/USD drops under 1.2000 as Powell send US bond yields flying - Forex Crunch](https://feedsoft.ai/events/11416-eur-usd-drops-under-1-2000-as-powell-send-us-bond-yields-flying-forex-crunch.md) | +0.7% | +0.9% |
| DXY | 2018-01-29 | [EUR/USD suffers from taper talk, USD recovery - it may be temporary - Forex Crunch](https://feedsoft.ai/events/67191-eur-usd-suffers-from-taper-talk-usd-recovery-it-may-be-temporary-forex-crunch.md) | +0.4% | +1.0% |
| DXY | 2016-11-14 | [EUR USD breaks down to new 2016 low as dollar extends strength](https://feedsoft.ai/events/9135-eur-usd-breaks-down-to-new-2016-low-as-dollar-extends-strength.md) | +1.4% | +0.8% |
| DXY | 2019-12-04 | [USD: Risk Of A USD Spike Into Year-End On A Sharp Rise In Net USD Demand - Citi - Forex Crunch](https://feedsoft.ai/events/55757-usd-risk-of-a-usd-spike-into-year-end-on-a-sharp-rise-in-net-usd-demand-citi.md) | -0.5% | -1.6% |
| EURUSD | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | -1.5% | -3.7% |
| EURUSD | 2021-03-04 | [EUR/USD drops under 1.2000 as Powell send US bond yields flying - Forex Crunch](https://feedsoft.ai/events/11416-eur-usd-drops-under-1-2000-as-powell-send-us-bond-yields-flying-forex-crunch.md) | -1.4% | -2.7% |
| EURUSD | 2018-01-29 | [EUR/USD suffers from taper talk, USD recovery - it may be temporary - Forex Crunch](https://feedsoft.ai/events/67191-eur-usd-suffers-from-taper-talk-usd-recovery-it-may-be-temporary-forex-crunch.md) | +0.2% | -1.0% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2018/08/10/it-took-turkey-to-send-eur-usd-to-new-2018-lows/

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