US Dollar Index
From Wikipedia, the free encyclopedia
The US Dollar Index (USDX) is an index or measure of the value of the United States dollar relative to a basket of foreign currencies. It is a weighted geometric mean of the dollar's value compared to the euro (EUR), Japanese yen (JPY), Pound sterling (GBP), Canadian dollar (CAD), Swedish krona (SEK) and Swiss franc (CHF).
It was started in March 1973, soon after the dismantling of the Bretton Woods system. At that time, the value of the Dollar Index was 100.000 and has since traded as high as the mid-160's and as low as the mid-70's. As of November 2007, the Dollar Index was trading at the 76-78 level. On March 6, 2008, the index touched 72.89, the lowest since its inception in 1973. This was broken on the 13th of March, 2008 when the index reached 71.578, and again on the 16th of March when it reached 70.698. The economic crisis in the United States has caused some to speculate that the index could breach the 70 barrier in the near future.
The index is updated 24 hours a day, 7 days a week. It is listed on ICE Futures Exchange US (ex NYBOT).
