US Dollar Index (DXY) Daily Bearish

15 May

DXY, or the US dollar index, is an index that tracks the performance of the US dollar against other currencies123. It was originally developed by the US Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the US dollar against global currencies4. The index is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners3. The index will rise if the Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies3.