The EUR/USD spot rate at the time of writing: 1.22162 (01/01.2021) Full timeline of key events that impacted the Euro to Dollar exchange rate over the course of 2020 Huge US Federal Reserve stimulus reversed March stampede into the dollar, Euro-to-Dollar rate posts 31-month highs The coronavirus pandemic was the ultimate black-swan event during 2020 and caused major upheaval in the global economy with record GDP declines across major economies. Market panic in March came close to collapsing the global financial system and the US dollar saw strong gains amid a stampede into cash. The unprecedented Federal Reserve easing gradually stabilised the situation and the dollar posted net losses as low yields undermined the US currency.