top of page

Title: Dollar Up, Euro Down as Russian Invasion of Ukraine Intensifies

  • Writer: analysiswatch
    analysiswatch
  • Mar 4, 2022
  • 1 min read

Mar 03, 2022 10:44PM ET


By: AnalysisWatch


The dollar strengthened in Asia on Friday morning, while the euro had its worst week against the US currency in nine months. The Russian invasion of Ukraine and the resulting higher commodity prices continue to weigh on expectations for European economic growth.


The US dollar index, which tracks the greenback against a basket of other currencies, rose 0.16% to 97.950 by 10:36 PM ET.


The USD/JPY pair fell 0.09% to 115.36, while Japanese data released earlier in the day showed that the January 2022 jobs-to-applications ratio was 1.2 and the unemployment rate was 2.8%.


The AUD/USD pair gained 0.08% to 0.7335 after Australian retail sales rose 1.8%. Higher commodity prices due to the Russian invasion have helped the riskier Australian dollar rise steadily in recent weeks.


The NZD/USD currency pair increased by 0.07% to 0.6805 USD.


The USD/CNY currency pair remained stable at 6.3204 and the GBP/USD currency pair fell 0.02% to 1.3343.


Worsening the crisis in Ukraine, Russian troops shelled the Zaporizhzhya power plant in Enerhodar, Ukraine, during the day. On the eighth day of its invasion, which began on February 24, Russia continued to surround and attack Ukrainian cities. This includes the eastern port city of Mariupol, which has come under heavy fire.


According to reports, the largest facility of its kind in Europe was on fire, boosting the Australian dollar. The news sent the euro down a further 0.48% to $1.1009, its lowest level since May 2020. So far this week, the single currency has lost 1.84%, its worst week since June 2021. The dollar also fell against the safe-haven yen but gained against other currencies.

 
 
 

Comments


2b94f773-a237-4da7-a599-6b42314ed9e6.png

Risk Disclosure: AnalysisWatch will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
AnalysisWatch would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore AnalysisWatch doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

bottom of page