U.S. Dollar Index soars to highest since 2020, while euro is under pressure as Russia-Ukraine conflict deepens

The U.S. Dollar Index soared to its highest level in almost two years on Friday as the deepening Russia-Ukraine conflict led investors to continue flocking to safe havens, such as the greenback. The dollar index rose 1% to 98.80, the highest level since May 2020. Meanwhile, the euro fell 1.4% to its lowest level against the dollar since that same time period. European currencies have in general been the hardest hit by the war, according to Joseph Marlow, an assistant economist at Capital Economics.

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