DXY watch if you trade gold
The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies.
DXY was originally developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies.
U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies.
The following six currencies are used to calculate the index:
Euro (EUR) 57.6%
Japanese yen (JPY) 13.6%
Pound sterling (GBP) 11.9%
Canadian dollar (CAD) 9.1%
Swedish krona (SEK) 4.2%
Swiss franc (CHF) 3.6%
Gold traders follow DXY.
DXY was originally developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies.
U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies.
The following six currencies are used to calculate the index:
Euro (EUR) 57.6%
Japanese yen (JPY) 13.6%
Pound sterling (GBP) 11.9%
Canadian dollar (CAD) 9.1%
Swedish krona (SEK) 4.2%
Swiss franc (CHF) 3.6%
Gold traders follow DXY.
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