The Euro has weakened further even as Russian-Ukraine crises escalates. Russian invaded Ukraine on the 24th of February, 20222 and the war has since escalated.
The Russian-Ukraine war has imparted on some currencies especially the Euro. EURUSD pair dropped to a yearly low of 1.0884 as last Friday.
The EURAUD pair is so interesting to watch. We notice as the war escalates, this pair falls so badly. As a result of so many sanctions imposed on Russia, there has been high demand for commodities from Australia and so the Aussie is strong as seen in the Chart above.
We might see a reversal of the Euro pairs if there is a change of the situation on ground in Ukraine.
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