Ukraine’s offensive campaign has enabled the strengthening of the euro.

The euro rose to a three-week high against the dollar after reports that the Armed Forces of Ukraine have conducted a successful offensive in the Kharkiv region. This signals that Ukraine will be able to end the war, which has led to an energy crisis and an uncontrollable rise in European prices, writes Bloomberg. According to market analysts, it was previously believed that the war in Ukraine would end by Russia’s decision. However, now there is a real possibility that the war will end on Ukraine’s terms, which will significantly change the rules of the game in financial markets. The situation has also been influenced by a statement by Governing Council of the European Central Bank member and President of the Deutsche Bundesbank, Joachim Nagel, that the ECB will continue to take clear measures if the inflation picture does not change. As a result, the euro rose about 1.6% to $1.0198 on September 12, its largest gain since March.