DOLLARThe U.S. Dollar Index (DXY) is a measure of the dollar's strength against a basket of six major currencies: the Euro (EUR), Japanese Yen (JPY), British Pound (GBP), Canadian Dollar (CAD), Swedish Krona (SEK), and Swiss Franc (CHF)1. Created in 1973 by the U.S. Federal Reserve, the DXY serves as a benchmark for evaluating the USD's performance
The DXY is a reliable gauge for measuring the strength of the U.S. dollar. An increasing DXY value indicates a strengthening U.S. dollar against other currencies in the index, while a decreasing value suggests a weakening U.S. dollar.
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