Euro Pinned Down As Russian Attacks Continue on Ukraine – 2 March, 2022

The euro was pinned near a 21-month low by concerns over the recent Russian attacks on Ukraine and how it may affect European growth. The euro reached a May 2020 low of $1.1058 before recovering at $1.1111 in early trading. It is down 1.4% on the week, on track for a fourth consecutive weekly loss against thee greenback. The Aussie touched a seven-week high of $0.7306 as prices for Australian exports such as coal , gas and grains soar. The euro is down nine sessions in a row to a four-year low of A$1.5218 against the Australian dollar. Sterling managed to bounce from Wednesday’s low of $1.3275 to trade at $1.3387 in Asia. The yen last traded at 115.54 per dollar and the U.S. dollar index sat at 97.479.