# Ukraine tensions lift dollar, send euro lower

> The dollar index rose to a two-week high as Ukraine tensions and expectations of a hawkish Federal Reserve lifted the currency. NATO reinforced eastern Europe and the US considered moving troops, while the euro fell to $1.1324 and to a low against the Swiss franc.

- Date: 2022-01-24 · published 2022-01-24T12:00:00.000Z
- Category: geopolitics · region Eastern Europe · magnitude medium
- Page: https://feedsoft.ai/events/6267-ukraine-tensions-lift-dollar-send-euro-lower
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Risk of Russian curbs on energy supplies to Europe could lift energy costs and disrupt Black Sea trade. A firmer dollar tends to weigh on dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-01-27 | 1 | -1.2% | -3.0 | Ukraine tensions and hawkish Fed expectations lifted the dollar and pressured the euro, the same drivers likely behind the 27 Jan drop, but the event is dated three days before the move, so it is only partial context. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-01-24 | [Ukraine tensions lift dollar, yuan holds firm \| Financial Post](https://feedsoft.ai/events/6266-ukraine-tensions-lift-dollar-yuan-holds-firm-financial-post.md) | +1.2% | +0.2% |
| DXY | 2022-03-06 | [Dollar Strength Builds as Ukraine War Deepens - WSJ](https://feedsoft.ai/events/12079-dollar-strength-builds-as-ukraine-war-deepens-wsj.md) | +0.3% | -1.0% |
| DXY | 2022-03-04 | [Ukraine war sends euro below $1.10 for first time in two years](https://feedsoft.ai/events/8256-ukraine-war-sends-euro-below-1-10-for-first-time-in-two-years.md) | +0.7% | -0.6% |
| DXY | 2022-09-22 | [Euro plummets to a 20-year low amid war in Ukraine](https://feedsoft.ai/events/39804-euro-plummets-to-a-20-year-low-amid-war-in-ukraine.md) | +1.9% | +1.8% |
| DXY | 2026-03-02 | [Euro Declines on Dollar Strength](https://feedsoft.ai/events/11007-euro-declines-on-dollar-strength.md) | +1.4% | +2.6% |
| EURUSD | 2022-01-24 | [Ukraine tensions lift dollar, yuan holds firm \| Financial Post](https://feedsoft.ai/events/6266-ukraine-tensions-lift-dollar-yuan-holds-firm-financial-post.md) | -1.6% | -0.2% |
| EURUSD | 2022-03-04 | [Ukraine war sends euro below $1.10 for first time in two years](https://feedsoft.ai/events/8256-ukraine-war-sends-euro-below-1-10-for-first-time-in-two-years.md) | -0.4% | +0.4% |
| EURUSD | 2022-09-22 | [Euro plummets to a 20-year low amid war in Ukraine](https://feedsoft.ai/events/39804-euro-plummets-to-a-20-year-low-amid-war-in-ukraine.md) | -2.0% | -0.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/01/24/forex-markets-us-fed-interest-rates-bitcoin-cryptocurrency-dollar.html

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