# Russia-Ukraine war has hit currencies hard. Here's what analysts expect next

> Currency markets were hit by steep losses and wild swings after Russia invaded Ukraine. The Deutsche Bank Currency Volatility Index neared 10%, its highest since April 2020, and the euro was down more than 4% against the dollar since the war began. Goldman Sachs dropped its constructive euro outlook while the conflict continues.

- Date: 2022-03-09 · published 2022-03-09T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9528-russia-ukraine-war-has-hit-currencies-hard-here-s-what-analysts-expect-next
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency volatility and a stronger dollar raise the cost of imported feed ingredients for buyers outside the US and add risk to hedging. European energy supply concerns also raise the cost of production inputs.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 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) | -0.9% | -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 | [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 | 2022-02-24 | [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 | 2022-03-05 | [Russia-Ukraine turmoil triggers market stress alarms](https://feedsoft.ai/events/8261-russia-ukraine-turmoil-triggers-market-stress-alarms.md) | +0.2% | +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 | 2022-02-25 | [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% |
| 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% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/03/09/russia-ukraine-war-has-hit-currencies-hard-heres-what-analysts-expect-next.html

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