Currencies scorecard

Key Takeaways

  • The euro remained under pressure after the Russian invasion of Ukraine, and the U.S. Dollar Index reached the highest levels seen since the COVID-19 spike in early 2020.
  • Emerging market currencies moved lower in the first quarter, given the expected negative economic impact of the Russia-Ukraine war and sanctions on Russia.

Sources: Bloomberg and Wells Fargo Investment Institute, as of March 31, 2022. 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.