- The euro resumed its slide after the second-quarter bounce, as the European Central Bank’s dovish Strategy Review contrasted with a more proactive monetary stance from the U.S. Federal Reserve.
- Dollar strength was reflected in most emerging market currencies edging lower, but some support was provided by buoyant commodity prices and monetary tightening in some economies.
Sources: Bloomberg and Wells Fargo Investment Institute, as of September 30, 2021. QoQ = quarter over quarter. YoY = year over year. The DXY Index measures the value of the U.S. dollar relative to major developed market currencies, notably the euro, the Japanese yen, and the British pound. An index is unmanaged and not available for direct investment. Past performance is no guarantee of future results.