EURUSD 18th MAY 2022

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Russo-Ukrainian conflict has put pressure on the eurozone economy because of its dependence on Russian energy. International Monetary Fund (IMF) also warned that the war in Ukraine will drag down the euro zone economy. IMF lowers economic growth forecast to 2.8%. It seems that investors are starting to worry about saving their money in EUR, they are starting to move their assets to safe havens such as US Dollars and Gold.