# Dollar gains vs euro as ECB holds policy steady, launches review

> The ECB left its key interest rates and asset purchases unchanged on January 23, 2020 and launched a broad review of its policy strategy under new President Christine Lagarde. The euro fell 0.37% to $1.1051 as the dollar strengthened, while the yen rose on coronavirus safe-haven demand.

- Date: 2020-01-23 · published 2020-01-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/55288-dollar-gains-vs-euro-as-ecb-holds-policy-steady-launches-review
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar against the euro makes US-priced grain and meal relatively more expensive for euro-zone buyers and can pressure dollar-denominated commodity prices. The ECB's steady stance means no near-term shift in the currency driver.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-11-07 | [Policy divergence bets drive dollar gains, pull euro lower](https://feedsoft.ai/events/68188-policy-divergence-bets-drive-dollar-gains-pull-euro-lower.md) | +1.4% | +1.6% |
| EURUSD | 2026-08-31 | [Euro holds modest gains as US Dollar lacks momentum, Eurozone inflation in focus](https://feedsoft.ai/events/18098-euro-holds-modest-gains-as-us-dollar-lacks-momentum-eurozone-inflation-in-focus.md) | +0.2% | -2.0% |
| EURUSD | 2020-03-12 | [Euro falls after ECB holds fire, dollar jumps as spreads widen](https://feedsoft.ai/events/6271-euro-falls-after-ecb-holds-fire-dollar-jumps-as-spreads-widen.md) | -4.0% | -3.7% |
| EURUSD | 2019-01-24 | [Dollar rises vs euro as ECB's Draghi warns on downside risks](https://feedsoft.ai/events/61302-dollar-rises-vs-euro-as-ecb-s-draghi-warns-on-downside-risks.md) | +0.2% | -0.4% |
| EURUSD | 2023-05-04 | [Dollar gains, euro dips after cautious ECB](https://feedsoft.ai/events/36157-dollar-gains-euro-dips-after-cautious-ecb.md) | -0.8% | -2.7% |
| DXY | 2025-01-29 | [US dollar firms against peers after Fed holds rates steady](https://feedsoft.ai/events/26413-us-dollar-firms-against-peers-after-fed-holds-rates-steady.md) | -0.1% | -0.8% |
| DXY | 2017-11-07 | [Policy divergence bets drive dollar gains, pull euro lower](https://feedsoft.ai/events/68188-policy-divergence-bets-drive-dollar-gains-pull-euro-lower.md) | -0.2% | -0.8% |
| DXY | 2024-03-27 | [Exchange Rates Today: Dollar At 34-Year High Vs Yen, Pound Euro Steady](https://feedsoft.ai/events/31471-exchange-rates-today-dollar-at-34-year-high-vs-yen-pound-euro-steady.md) | +0.2% | +1.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/01/23/forex-markets-coronavirus-australian-jobs-data-in-focus.html

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