The US Dollar Index (also known as DXY or USDX) measures the value of the US dollar against a basket of foreign currencies. Therefore, it provides us with an insight into whether the dollar is strengthening or weakening compared to other major currencies.
This index has a positive correlation with currency pairs where the dollar is the base currency. Conversely, there is an inverse correlation.
The DXY or USDX measures the exchange rate of the US dollar against 6 currencies. The currency with the most weight in its composition is the euro.
It is a key indicator in analyzing the value of the dollar to determine its trend. Additionally, it can be used to study the global macroeconomic situation, as well as to gauge the level of economic and financial uncertainty at a particular moment. (🇬🇧)
This index has a positive correlation with currency pairs where the dollar is the base currency. Conversely, there is an inverse correlation.
The DXY or USDX measures the exchange rate of the US dollar against 6 currencies. The currency with the most weight in its composition is the euro.
It is a key indicator in analyzing the value of the dollar to determine its trend. Additionally, it can be used to study the global macroeconomic situation, as well as to gauge the level of economic and financial uncertainty at a particular moment. (🇬🇧)