# Euro Exchange Rate Reaches 5-Week-Best As Rivals Pound Sterling And Dollar See Large Losses | Exchange Rates UK

> The euro reached a five-week high on 2 March 2020 as rivals including sterling and the dollar posted large losses. Sterling fell on hard Brexit fears and coronavirus concerns, while the dollar slumped as Fed rate cut bets surged.

- Date: 2020-03-02 · published 2020-03-02T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/6188-euro-exchange-rate-reaches-5-week-best-as-rivals-pound-sterling-and-dollar-see
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Broad dollar weakness on Fed cut bets can lift dollar-denominated grain and meal prices, while sterling weakness affects UK feed buying costs.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲
- GBPUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2020-03-02 | 1 | +1.5% | 5.4 | Reports on 2 March the euro hit a five-week high as the dollar slumped on surging Fed rate cut bets, which is a dollar-weakness and currency mechanism consistent with the move. |
| DXY | 2020-03-02 | 1 | -0.7% | -4.4 | Dollar slumped on 2 March as Fed rate-cut bets surged, with euro gaining against it. |
| EURUSD | 2020-03-06 | 5 | +2.9% | 4.4 | Dollar weakness on surging Fed rate-cut bets lifted the euro to a five-week high on 2 March, contributing to the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-12-15 | [Sterling falls against dollar and euro on 'dovish' UK rate hike](https://feedsoft.ai/events/38477-sterling-falls-against-dollar-and-euro-on-dovish-uk-rate-hike.md) | -0.5% | +1.5% |
| EURUSD | 2017-01-30 | [Euro Exchange Rates Trade Higher Vs Pound, Dollar After Navarro Comments Dent USD](https://feedsoft.ai/events/73192-euro-exchange-rates-trade-higher-vs-pound-dollar-after-navarro-comments-dent-usd.md) | +1.0% | -0.6% |
| EURUSD | 2021-10-29 | [Euro US Dollar Exchange Rate Jumps On ECB Rate Decision And US GDP](https://feedsoft.ai/events/44756-euro-us-dollar-exchange-rate-jumps-on-ecb-rate-decision-and-us-gdp.md) | -1.2% | -3.6% |
| EURUSD | 2023-01-31 | [Expect Pound Sterling Weakness against Euro, Dollar in Wake of Bank of England: CIBC](https://feedsoft.ai/events/38020-expect-pound-sterling-weakness-against-euro-dollar-in-wake-of-bank-of-england.md) | -1.3% | -2.4% |
| EURUSD | 2021-07-30 | [EUR/USD Forecast: Euro US Dollar Exchange Rate Climbs To Three-Week High On Disappointing US GDP](https://feedsoft.ai/events/46297-eur-usd-forecast-euro-us-dollar-exchange-rate-climbs-to-three-week-high-on.md) | -0.4% | -1.1% |
| DXY | 2020-08-28 | [FED Sparks Currency Rate Moves, Dollar Pares Losses, Pound-Dollar Dips From 2020 Best \| Exchange Rates UK](https://feedsoft.ai/events/51869-fed-sparks-currency-rate-moves-dollar-pares-losses-pound-dollar-dips-from-2020.md) | -0.5% | +1.0% |
| DXY | 2020-02-12 | [2020-2021 Exchange Rate Forecast: Pound Sterling And Dollar To Lose Ground This Year Say Commerzbank](https://feedsoft.ai/events/54834-2020-2021-exchange-rate-forecast-pound-sterling-and-dollar-to-lose-ground-this.md) | +0.4% | +1.6% |
| DXY | 2020-11-05 | [Pound-Dollar Rate Rallies 1% As BoE Fails To Mention Negative Interest Rates \| Exchange Rates UK](https://feedsoft.ai/events/50419-pound-dollar-rate-rallies-1-as-boe-fails-to-mention-negative-interest-rates.md) | -0.8% | -2.9% |

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/28774/2020-03-02-euro-to-dollar-exchange-rate-reaches-5-week-best-as-rivals-plummet.html

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