# New COVID scare sparks rate rethink in markets

> Markets rethought rate expectations after new COVID concerns, with the yen and Swiss franc gaining over 1% against the dollar. The euro rose 0.75% in one of its biggest daily jumps of the year.

- Date: 2021-11-26 · published 2021-11-26T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/11256-new-covid-scare-sparks-rate-rethink-in-markets
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Shifts in safe-haven flows and rate expectations move currency values that affect import costs for feed buyers in Asia and Europe, with limited direct effect on grain prices.

## Read by commodity

- EURUSD: bullish ▲
- USDJPY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2021-11-26 | 1 | +0.9% | 3.2 | Published on 2021-11-26, it directly describes the euro's roughly 0.75% jump, one of its biggest daily gains of the year, as the new COVID variant scare prompted a rethink of rate expectations and pulled the dollar down (sentiment/currency). |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2025-06-06 | [For markets, end to ECB rate cuts just got closer](https://feedsoft.ai/events/24435-for-markets-end-to-ecb-rate-cuts-just-got-closer.md) | +1.2% | +2.6% |
| EURUSD | 2020-07-30 | [Forex markets: Dollar, U.S. Federal Reserve in focus](https://feedsoft.ai/events/52297-forex-markets-dollar-u-s-federal-reserve-in-focus.md) | +1.1% | +0.4% |
| EURUSD | 2021-10-28 | [Euro Rises Against USD Amid Interest Rate Market Moves](https://feedsoft.ai/events/44755-euro-rises-against-usd-amid-interest-rate-market-moves.md) | -0.1% | -2.6% |
| EURUSD | 2020-07-28 | [Rates Spark: The weaker USD, the Fed and cross currency \| articles \| ING THINK](https://feedsoft.ai/events/52298-rates-spark-the-weaker-usd-the-fed-and-cross-currency-articles-ing-think.md) | 0.0% | +0.5% |
| EURUSD | 2024-05-31 | [Eurozone inflation accelerates in May: Are ECB rate cuts in doubt? \| Euronews](https://feedsoft.ai/events/30466-eurozone-inflation-accelerates-in-may-are-ecb-rate-cuts-in-doubt-euronews.md) | +0.4% | -1.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/new-covid-scare-sparks-rate-rethink-markets-2021-11-26/

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