TORONTO, (Reuters) – The Canadian dollar fell against the U.S. currency on Thursday after Russia invaded Ukraine. It was a sign of a panic in financial markets around the world.

After the largest European attack on another country since World War Two ended in global stock market collapse, the U.S. Dollar was safe and has risen steadily.

After touching the lowest intraday levels since Dec. 27, at 1.2847, the Canadian dollar traded 0.7% lower at 1.2819 against the greenback (78.01 U.S. Cents).

The commodity-linked currencies did better than all other G10 currencies. The greenback was better against only the Japanese yen, and the Swiss Franc.

Oil, Canada’s main export, rose 7.60%, to $99.10 per barrel, as concerns over disruptions in global energy supplies were raised by the invasion.

An increase of 1.3% in Canadian factory sales between December and January resulted from higher petroleum product sales, according to preliminary estimates.

Investors bet on the Bank of Canada raising interest rates Wednesday. However, long-term rates fell following the U.S. Treasuries rate hike.

10.4 basis points lower at 1.900% for the 10-year yield.