The panic in Europe this morning - what you need to know

Euro(pe)'s shit show

Soggy euro continues imploding. The currency has moved from 1.13 to 1.086 since the Russian invasion. Europe continues to be the main sucker when it comes to most global risks. From corona to the energy crunch and now the Russian/Ukraine war. 1.08 is a big level for the euro. A close below it and the next big support area is down at 1.05 ish. What is even more "impressive" than the latest move lower in the euro is the explosion in vols. The 1 mth eurusd vol is trading at 11.7% as of writing. The market is pricing approx 0.75% daily moves this coming month.