What is Us dolar index?
The US Dollar Index Many of us may not know about this currency pair but the Forex market pair seems to be much more important. Traders should pay special attention to this pair of USDX before trading in major pairs as there are several major pairs attached to this pair. Euro, Pound, Yen JPY, Sec (CEK), CAD, CHF These six currencies are combined with USD currency. USDX is paired. When the USDX pair is strong, then the USD is getting stronger. Similarly, if this pair is weak, then the currencies like Euro, Pound, Yen, etc. are getting stronger. Although I may not be able to explain very well, those who know better will explain a little better.
The USDX is a measure of the value of the US dollar in relation to a basket of foreign currencies. Following the breakdown of the Bretton Woods Agreement in 1973, the US Federal Reserve introduced the USDX.