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Post by scumbuster on Sept 23, 2022 18:40:32 GMT -5
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: www.tradingview.com/symbols/TVC-DXY/
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Post by vikingo on Sept 24, 2022 9:00:37 GMT -5
The most important competitor of the USD is the €, right now at an all time low because of the energy crisis in the EU.
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Post by scumbuster on Sept 24, 2022 17:18:12 GMT -5
All currencies are in bad shape but the USD is the tallest midget in the room. The rising interest rates from the fed is a lot of the reason for the dollar moving up. The last big rise in the DXY was when the fed jumped the rate another 3/4%. All the big jumps lately correspond to interest rate hikes by the FED. Surprisingly the COP has been pretty stable after the decline from Petro being elected.
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