# Dollar jumps to near two-year high as Russia invades Ukraine | Reuters

> The US dollar jumped to its highest level in nearly two years and the Russian rouble hit a record low after Russia launched an invasion of Ukraine. Investors fled risk assets for safe havens. The dollar index rose about 0.9% on the day.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/6980-dollar-jumps-to-near-two-year-high-as-russia-invades-ukraine-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Feed buyers face a stronger dollar that makes US exports pricier for importers, while a geopolitical shock adds volatility to grain and energy markets. The dollar's safe-haven rally is a bearish pressure on dollar-denominated commodities.

## Read by commodity

- DXY: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2022-02-24 | 1 | +1.1% | 4.6 | Russia's invasion of Ukraine on 2022-02-24 triggered safe-haven flows into the dollar, which rose to a near two-year high (dollar index up about 0.9%), directly matching the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-02-24 | [Canadian dollar hits two-month low as Russia invades Ukraine - The Globe and Mail](https://feedsoft.ai/events/42918-canadian-dollar-hits-two-month-low-as-russia-invades-ukraine-the-globe-and-mail.md) | +1.0% | +1.2% |
| DXY | 2022-02-25 | [Dollar surges as Russia invades Ukraine - Business & Finance - Business Recorder](https://feedsoft.ai/events/6985-dollar-surges-as-russia-invades-ukraine-business-and-finance-business-recorder.md) | +0.0% | +0.0% |
| DXY | 2022-02-24 | [Treasury yields slide as Russia invades Ukraine](https://feedsoft.ai/events/42877-treasury-yields-slide-as-russia-invades-ukraine.md) | +1.0% | +1.2% |
| DXY | 2022-02-22 | [Asian FX, stocks slip as Russia-Ukraine tensions escalate \| Reuters](https://feedsoft.ai/events/42953-asian-fx-stocks-slip-as-russia-ukraine-tensions-escalate-reuters.md) | +0.4% | +1.0% |
| DXY | 2022-02-25 | [From euro to EM: Russia's Ukraine war upends market bets \| Reuters](https://feedsoft.ai/events/9834-from-euro-to-em-russia-s-ukraine-war-upends-market-bets-reuters.md) | +0.0% | +0.0% |
| WHEAT | 2022-02-24 | [Wheat, soybeans hit nine-year highs as Russia invades Ukraine](https://feedsoft.ai/events/8527-wheat-soybeans-hit-nine-year-highs-as-russia-invades-ukraine.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-25 | [Dollar surges as Russia invades Ukraine - Business & Finance - Business Recorder](https://feedsoft.ai/events/6985-dollar-surges-as-russia-invades-ukraine-business-and-finance-business-recorder.md) | +9.4% | +23.7% |

## Sources

- reuters.com: https://www.reuters.com/world/india/euro-skids-versus-safe-havens-ukraine-tensions-ramp-up-2022-02-24/

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