can someone explain to me how this dollar index works?
http://quotes.ino.com/chart/?s=NYBOT_DX
I see the dollar is up against the Euro, down against the Yen, and up against the Pound. Do they average this? Thank you for your time.
Yes. The US Dollar Index is what you would have to pay in dollars to acquire a “basket” of currencies.
* Euro (EUR), 57.6% weight
* Pound sterling (GBP), 11.9% weight
* Canadian dollar (CAD), 9.1% weight
* Swedish krona (SEK), 4.2% weight and
* Swiss franc (CHF) 3.6% weight.
* Japanese Yen (JPY) 13.6% weight.
