# G-10 currencies plummet as Dollar posts largest rally since 2020 | World News

> The Bloomberg Dollar Index rose as much as 1.4% on Thursday, its largest intraday gain in nearly two years, as Russia's invasion of Ukraine drove haven demand. The euro fell as much as 1.8% to 1.1106, and Scandinavian currencies declined at least 1%.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/6984-g-10-currencies-plummet-as-dollar-posts-largest-rally-since-2020-world-news
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A sharp dollar rally raises dollar-denominated feed import costs for buyers outside the US and can weigh on US export prices. The effect is a currency-driven shift rather than a physical supply change.

## 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 | Reports broad G-10 currency weakness and a 1.4% Bloomberg Dollar Index rise on haven demand, with the euro down sharply on 24 Feb. |
| DXY | 2022-02-24 | 1 | +1.1% | 4.6 | Same-day report of the Bloomberg Dollar Index's largest rally since 2020 (up to 1.4%) with G-10 and Scandinavian currencies falling on haven demand. |
| EURUSD | 2022-02-24 | 5 | -2.0% | -2.8 | Report of the Bloomberg Dollar Index's 1.4% jump and the euro's 1.8% drop to 1.1106 on safe-haven flows after the invasion directly explains the sharp euro move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-02-24 | [Investors flock to the dollar as G-10 currencies plummet following Ukraine invasion \| Fortune](https://feedsoft.ai/events/6982-investors-flock-to-the-dollar-as-g-10-currencies-plummet-following-ukraine.md) | +1.0% | +1.2% |
| DXY | 2022-02-24 | [Euro (EUR USD) Falls to Weakest Since 2020 as Greenback Surges - Bloomberg](https://feedsoft.ai/events/6981-euro-eur-usd-falls-to-weakest-since-2020-as-greenback-surges-bloomberg.md) | +1.0% | +1.2% |
| DXY | 2026-03-03 | [EUR/USD plunges below 1.1600 as US Dollar rallies amid risk-aversion mood](https://feedsoft.ai/events/11006-eur-usd-plunges-below-1-1600-as-us-dollar-rallies-amid-risk-aversion-mood.md) | +0.7% | +2.2% |
| DXY | 2026-03-01 | [Oil jumps, dollar rallies with gold as conflict grips Middle East \| Reuters](https://feedsoft.ai/events/10713-oil-jumps-dollar-rallies-with-gold-as-conflict-grips-middle-east-reuters.md) | +1.4% | +2.6% |
| DXY | 2022-03-09 | [Russia-Ukraine war has hit currencies hard. Here's what analysts expect next](https://feedsoft.ai/events/9528-russia-ukraine-war-has-hit-currencies-hard-here-s-what-analysts-expect-next.md) | -0.3% | -1.6% |
| EURUSD | 2022-02-24 | [Investors flock to the dollar as G-10 currencies plummet following Ukraine invasion \| Fortune](https://feedsoft.ai/events/6982-investors-flock-to-the-dollar-as-g-10-currencies-plummet-following-ukraine.md) | -1.9% | -2.8% |
| EURUSD | 2022-02-24 | [Euro (EUR USD) Falls to Weakest Since 2020 as Greenback Surges - Bloomberg](https://feedsoft.ai/events/6981-euro-eur-usd-falls-to-weakest-since-2020-as-greenback-surges-bloomberg.md) | -1.9% | -2.8% |
| EURUSD | 2026-03-03 | [EUR/USD plunges below 1.1600 as US Dollar rallies amid risk-aversion mood](https://feedsoft.ai/events/11006-eur-usd-plunges-below-1-1600-as-us-dollar-rallies-amid-risk-aversion-mood.md) | -0.8% | -2.0% |

## Sources

- hindustantimes.com: https://www.hindustantimes.com/world-news/g10-currencies-plummet-as-dollar-posts-largest-rally-since-2020-101645736505929.html

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