# Euro falls to lowest since June 2020 as Russia's invasion of Ukraine picks up

> The euro hit its lowest level against the dollar since June 2020 as Russia's invasion of Ukraine intensified. Brent crude futures posted their highest close since August 2014 despite a global agreement to release crude reserves. The Russian rouble fell in volatile trading as investors moved to safe havens.

- Date: 2022-03-01 · published 2022-03-01T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/8259-euro-falls-to-lowest-since-june-2020-as-russia-s-invasion-of-ukraine-picks-up
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Brent at multi-year highs lifts diesel, freight and fertilizer costs for feed makers, while safe-haven demand for the dollar weakens euro-denominated import purchasing power.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-01 | 1 | +7.6% | 3.4 | Reports Brent posted its highest close since 2014 on March 1 despite the reserve release, confirming the same-day price move amid intensifying invasion. |
| DXY | 2022-03-07 | 5 | +1.8% | 3.1 | Euro hit its lowest since June 2020 on March 1 as the invasion intensified and oil jumped, with investors moving to safe havens, favoring the dollar early in the window. |
| BRENT | 2022-03-04 | 5 | +25.7% | 5.2 | Brent posted its highest close since 2014 on March 1 despite the reserve release, adding to the rally early in the window. |
| EURUSD | 2022-03-07 | 5 | -3.2% | -3.9 | On 2022-03-01 the euro hit its lowest since June 2020 amid haven flows and an oil surge, contributing to the early part of the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-02 | [Oil jumps to highest since 2011 as OPEC holds output steady despite Russia's war on Ukraine](https://feedsoft.ai/events/42432-oil-jumps-to-highest-since-2011-as-opec-holds-output-steady-despite-russia-s.md) | +21.0% | +3.3% |
| BRENT | 2022-03-23 | [How Russia's invasion of Ukraine rocked commodity markets](https://feedsoft.ai/events/6242-how-russia-s-invasion-of-ukraine-rocked-commodity-markets.md) | -5.9% | -10.6% |
| BRENT | 2022-02-26 | [Will diesel fuel prices go up with Russia's invasion of Ukraine? \| Commercial Carrier Journal](https://feedsoft.ai/events/42899-will-diesel-fuel-prices-go-up-with-russia-s-invasion-of-ukraine-commercial.md) | +23.1% | +23.8% |
| BRENT | 2022-02-24 | [Treasury yields slide as Russia invades Ukraine](https://feedsoft.ai/events/42877-treasury-yields-slide-as-russia-invades-ukraine.md) | +18.2% | +27.0% |
| BRENT | 2022-02-24 | [European gas prices soar and oil tops $105 after Russia attacks Ukraine](https://feedsoft.ai/events/42882-european-gas-prices-soar-and-oil-tops-105-after-russia-attacks-ukraine.md) | +18.2% | +27.0% |
| EURUSD | 2022-02-25 | [Euro tries to recover after tumbling on Russian invasion of Ukraine - Markets - Business Recorder](https://feedsoft.ai/events/9837-euro-tries-to-recover-after-tumbling-on-russian-invasion-of-ukraine-markets.md) | -0.9% | -1.3% |
| EURUSD | 2022-03-04 | [U.S. Dollar Index soars to highest since 2020, while euro is under pressure as Russia-Ukraine conflict deepens - MarketWatch](https://feedsoft.ai/events/12078-u-s-dollar-index-soars-to-highest-since-2020-while-euro-is-under-pressure-as.md) | -0.4% | +0.4% |
| 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% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/rouble-licks-wounds-yen-franc-hold-firm-with-focus-squarely-ukraine-2022-03-01/

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