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USDx

by Dr.Hamdi Boukamcha
Name:
USDx
Author: EADeveloper (2009.04.02 10:23)
Downloaded: 2711
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USDx

From http://forexforums.dailyfx.com/blogs/learningmarkets-com/781-us-dollar-index-usdx.html:

“The USDX compares the US dollar (USD) against a basket of other world currencies. This basket represents most of the largest free floating, major currencies in the world on a weighted average basis. The currencies included are the euro, yen, British pound, Canadian dollar, Swedish krona and Swiss franc. Each of these currencies are given a weight with the largest weight given to the euro. Because the euro is typically half the total weight included in the average the chart for the USDX will often look like a chart of the USD/EUR futures contract. Spot forex traders will notice that the USDX is very similar to an inverse of the EUR/USD spot contract. However, because the USDX includes 6 different currencies it is a better measure of USD strength than any single currency pair including the EUR/USD.”

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