Only very few people in the world understand that this move in the Euro and other moves in Stocks (and soon - in Treasuries, Gold, Crude and Silver) have nothing to do with the war in Ukraine.
The market has been preparing for this price action for far too long. The coming crash of the Euro to 0.86 (and a spike in 10Y to above 5%) is directly related to the events occurring in 1971 and 2008.
In 1971 the Dollar was unpegged from Gold, which opened the door to massive dollar-printing and continuous weakening of the Dollar. In 2008 the downtrend in the Dollar broke down, which produced a few cracks on the market surface. Those were quickly patched with freshly minted dollars.
This time things will get far worse. The world still believes that the Dollar can only get weaker - the market will force every one to abandon this belief.