When the market panicked in March, the U.S. dollar quickly increased in price vs. its major peers. This was driven by a U.S. dollar shortage. The U.S. Dollar index increased to 103 from 95. As time has progressed, the Federal Reserve has provided and promised almost endless liquidity. This has caused the U.S. dollar to fall vs. most of the world's other major currencies.
The U.S. dollar’s wild ride
Currency volatility as measured by the J.P. Morgan Global FX Volatility index jumped to over 15, which was a level not seen since the Great Recession.