Oliver Mangan: Euro falling out of favour as Ukraine crisis fuels currency volatility

The eurozone economy is more exposed than others to the crisis, given its closer links with Russia, including its reliance on oil and gas imports from there

Refugees wait in a crowd for transportation after fleeing from the Ukraine and arriving at the border crossing in Medyka, Poland, on Monday; the humanitarian crisis will impact financial markets. Picture: Markus Schreiber/AP

The last week has been particularly volatile in financial markets as they struggle to assess the implications for economies of the war in Ukraine, not to mention the major humanitarian crisis that is unfolding as each day passes.

It is clear that inflation will now rise even further in 2022, which has negative implications for growth in advanced economies, especially the EU.