EUR – The euro extended recent declines and hit its lowest since 2016 against GBP on Thursday as investors became increasingly concerned about the impact of rising oil prices following Russia’s invasion of Ukraine.
Commenting on the rise in oil prices, Wester Union noted that “the Ukraine crisis has really lit a fire under oil, and we’re showing how that’s really becoming a source of significant weakness for the euro and a major source of strength for commodity currencies.”
Commenting on the rise in oil prices, Wester Union noted that “the Ukraine crisis has really lit a fire under oil, and we’re showing how that’s really becoming a source of significant weakness for the euro and a major source of strength for commodity currencies.”
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.