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Lesson 46

The US Dollar Index (DXY)

The ICE US Dollar Index measures the dollar against a fixed six-currency basket using geometric weights. It is neither a complete trade-weighted dollar measure nor a quote against the Iranian rial.
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Sahmino editorial· 13 August· 2 min read· Currency

The ICE US Dollar Index measures the dollar against a fixed six-currency basket using geometric weights. It is neither a complete trade-weighted dollar measure nor a quote against the Iranian rial. Its members and unequal weights mean different currency moves have different effects. A rising DXY indicates dollar strength against that specified basket. Gold can respond to interest rates, risk demand and other factors at the same time, so an inverse DXY-gold relationship is not a mechanical law.

Worked example (hypothetical)

DXY moves from 100 to 102, a 2% index rise. A Tehran dollar quote moving from 600,000 to 660,000 rial rises 10%. These percentages measure different baskets and can diverge without a calculation error.

Check your understanding

Can DXY tell you the executable rial-dollar buying price? No. It contains no rial component and has no local settlement terms.

Currency MarketSahmino AcademyDollar Index

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