![]() ![]() ![]() The basket of currencies consists of the Euro, Swiss Franc, Japanese Yen, Canadian Dollar, British Pound, and Swedish Krona. The US Dollar Index is a measure of the value of the United States Dollar relative to a basket of foreign currencies. It can be used by forex traders looking for a tool that gauges whether it's time to buy or sell currencies based on what's happening with other world markets.Ĭontinue reading to find out exactly how the US Dollar Index is calculated, how you can trade this index, and why it is so important for forex traders to monitor. dollar is in relation to foreign currencies such as the Euro, Canadian Dollar, and Japanese Yen. ![]() The index was created to help traders understand how strong or weak the U.S. The US Dollar Index is a measure of the value of the dollar against six other major currencies. ![]()
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