# EUR/USD Falls Steeply; Could Drop Below 1.2000 As ECB Policymaker Calls for PEPP Acceleration

> EUR/USD fell steeply after ECB policymaker Stournaras called for accelerated PEPP purchases to counter what he called unwarranted tightening of financing conditions. The pair was at risk of breaking below the 1.2089 support level.

- Date: 2021-02-26 · published 2021-02-26T12:00:00.000Z
- Category: macro · region Eurozone · magnitude low
- Page: https://feedsoft.ai/events/9590-eur-usd-falls-steeply-could-drop-below-1-2000-as-ecb-policymaker-calls-for-pepp
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of more ECB easing weigh on the euro and can strengthen the dollar. This shifts the relative cost of dollar-priced commodities for euro-area importers.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2021-02-26 | 1 | -1.1% | -3.6 | Reports EUR/USD falling steeply on the dovish ECB PEPP comments, a direct same-day currency catalyst. |
| DXY | 2021-02-26 | 1 | +0.8% | 3.4 | ECB's call for faster PEPP purchases weighed on the euro, the largest weight in the broad dollar basket. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-03-04 | [EUR/USD drops under 1.2000 as Powell send US bond yields flying - Forex Crunch](https://feedsoft.ai/events/11416-eur-usd-drops-under-1-2000-as-powell-send-us-bond-yields-flying-forex-crunch.md) | -1.4% | -2.7% |
| EURUSD | 2019-02-15 | [EUR/USD falls below 1.1250 on comments from Coeure](https://feedsoft.ai/events/60824-eur-usd-falls-below-1-1250-on-comments-from-coeure.md) | +0.5% | +0.5% |
| EURUSD | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | -1.5% | -3.7% |
| EURUSD | 2025-01-30 | [COMMENT-ECB, data set the stage for lower EUR/USD as tariff decision looms](https://feedsoft.ai/events/26731-comment-ecb-data-set-the-stage-for-lower-eur-usd-as-tariff-decision-looms.md) | +0.0% | -0.0% |
| EURUSD | 2024-09-23 | [US Dollar Forecast: EUR/USD Falls as Weak Eurozone Data Fuels ECB Rate Cut Bets \| FXEmpire](https://feedsoft.ai/events/28531-us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets.md) | 0.0% | -3.0% |
| DXY | 2021-03-04 | [EUR/USD drops under 1.2000 as Powell send US bond yields flying - Forex Crunch](https://feedsoft.ai/events/11416-eur-usd-drops-under-1-2000-as-powell-send-us-bond-yields-flying-forex-crunch.md) | +0.7% | +0.9% |
| DXY | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | +0.7% | +1.9% |
| DXY | 2026-06-17 | [Gold drops below $4,300/oz as Fed votes 12-0 in favor of rate hold, but nearly half of policymakers see a rate hike in 2026  \| Kitco News](https://feedsoft.ai/events/18715-gold-drops-below-4-300-oz-as-fed-votes-12-0-in-favor-of-rate-hold-but-nearly.md) | +1.8% | +0.9% |

## Sources

- investingcube.com: https://www.investingcube.com/forex/eur-usd-falls-steeply-could-drop-below-1-2000-as-ecb-policymaker-calls-for-pepp-acceleration-forex/

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