# FX Daily: Geopolitical risk starts to take its toll in FX | ING THINK

> Rising geopolitical tension in eastern Ukraine and a sharp equity sell-off have hit high-beta currencies such as the Canadian dollar and Norwegian krone. Investors are favoring the dollar for liquidity, while the renminbi is firming.

- Date: 2022-01-25 · published 2022-01-25T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/12225-fx-daily-geopolitical-risk-starts-to-take-its-toll-in-fx-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Geopolitical risk aversion drives safe-haven dollar demand and can disrupt Black Sea grain and oilseed flows, adding volatility to feed commodity prices.

## Read by commodity

- DXY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-01-08 | [ECOPETROL SA \| Emerging Markets: Latam FX down as geopolitical jitters trigger risk-aversion](https://feedsoft.ai/events/32417-ecopetrol-sa-emerging-markets-latam-fx-down-as-geopolitical-jitters-trigger.md) | +0.1% | +1.6% |
| DXY | 2025-10-31 | [Crude Prices Rise on Geopolitical Risks in Venezuela](https://feedsoft.ai/events/22563-crude-prices-rise-on-geopolitical-risks-in-venezuela.md) | +0.3% | -0.2% |
| DXY | 2024-11-20 | [Geopolitical jitters – Corpay Currency Research](https://feedsoft.ai/events/27663-geopolitical-jitters-corpay-currency-research.md) | +0.8% | +1.0% |
| DXY | 2022-02-22 | [US Dollar Index advances to multi-day highs near 96.30 on geopolitics: Analytics and Market news from 22 February 2022 06:43](https://feedsoft.ai/events/6986-us-dollar-index-advances-to-multi-day-highs-near-96-30-on-geopolitics-analytics.md) | +0.4% | +1.0% |
| DXY | 2026-03-25 | [GBP/USD slips as risk aversion, sticky UK inflation lift US Dollar](https://feedsoft.ai/events/20431-gbp-usd-slips-as-risk-aversion-sticky-uk-inflation-lift-us-dollar.md) | +0.8% | -1.4% |
| WHEAT | 2023-08-07 | [The Commodities Feed: Russia-Ukraine tensions add to oil supply risks \| articles \| ING THINK](https://feedsoft.ai/events/34496-the-commodities-feed-russia-ukraine-tensions-add-to-oil-supply-risks-articles.md) | +0.5% | -6.9% |
| WHEAT | 2024-10-01 | [U.S. grains: Wheat rallies on drought, geopolitical tensions; corn follows \| Farmtario](https://feedsoft.ai/events/27910-u-s-grains-wheat-rallies-on-drought-geopolitical-tensions-corn-follows-farmtario.md) | -5.0% | -6.5% |
| WHEAT | 2024-11-20 | [Geopolitical jitters – Corpay Currency Research](https://feedsoft.ai/events/27663-geopolitical-jitters-corpay-currency-research.md) | -0.0% | +0.4% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-geo-political-risk-starts-to-take-its-toll-in-fx/

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