# Investors flock to the dollar as G-10 currencies plummet following Ukraine invasion | Fortune

> The dollar posted its largest intraday gain in nearly two years after Russia invaded Ukraine, rising against all G-10 peers. The euro fell to a nearly seven-year low against the Swiss franc and as much as 1.8% against the dollar.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/6982-investors-flock-to-the-dollar-as-g-10-currencies-plummet-following-ukraine
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Safe-haven dollar strength raises the cost of imported commodities for non-US buyers and pressures dollar-priced grain and oilseed prices. Gains partly pared as US tech shares rebounded, limiting the price effect.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-02-24 | 1 | -1.4% | -3.5 | Describes the dollar's largest intraday gain in nearly two years after the invasion, with the euro down as much as 1.8% on safe-haven flows. |
| DXY | 2022-02-24 | 1 | +1.1% | 4.6 | Dollar posted its largest intraday gain in nearly two years and rose against all G-10 peers after the invasion, reflecting broad risk-off demand for the dollar. |
| EURUSD | 2022-02-24 | 5 | -2.0% | -2.8 | Russia's invasion triggered the dollar's largest intraday gain in nearly two years and broad G-10 currency weakness, with the euro hit by its proximity to the conflict and energy exposure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-02-24 | [G-10 currencies plummet as Dollar posts largest rally since 2020 \| World News](https://feedsoft.ai/events/6984-g-10-currencies-plummet-as-dollar-posts-largest-rally-since-2020-world-news.md) | +1.0% | +1.2% |
| 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 | 2022-02-24 | [Dollar jumps to near two-year high as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/6980-dollar-jumps-to-near-two-year-high-as-russia-invades-ukraine-reuters.md) | +1.0% | +1.2% |
| DXY | 2022-03-01 | [Euro falls to lowest since June 2020 as Russia's invasion of Ukraine picks up](https://feedsoft.ai/events/8259-euro-falls-to-lowest-since-june-2020-as-russia-s-invasion-of-ukraine-picks-up.md) | +1.8% | +0.8% |
| 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% |
| EURUSD | 2022-02-24 | [G-10 currencies plummet as Dollar posts largest rally since 2020 \| World News](https://feedsoft.ai/events/6984-g-10-currencies-plummet-as-dollar-posts-largest-rally-since-2020-world-news.md) | -1.9% | -2.8% |
| EURUSD | 2022-03-01 | [Euro falls to lowest since June 2020 as Russia's invasion of Ukraine picks up](https://feedsoft.ai/events/8259-euro-falls-to-lowest-since-june-2020-as-russia-s-invasion-of-ukraine-picks-up.md) | -3.2% | -2.2% |
| 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

- fortune.com: https://fortune.com/2022/02/24/us-dollar-currency-europe-russia-ukraine-invasion/

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