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词条 U.S. Dollar Index
释义

  1. History

  2. Quotes

  3. Calculation

  4. Trading

  5. See also

  6. References

  7. External links

{{Use American English|date = February 2019}}{{Short description|Economic measure of US dollar exchange rates}}{{Use mdy dates|date = January 2019}}

The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies,[1] often referred to as a basket of U.S. trade partners' currencies.[2] The Index goes up when the U.S. dollar gains "strength" (value) when compared to other currencies.[3]

The index is maintained and published by ICE (Intercontinental Exchange, Inc.), with the name "U.S. Dollar Index" a registered trademark.[4][5]

It is a weighted geometric mean of the dollar's value relative to following select currencies:

  • Euro (EUR), 57.6% weight
  • Japanese yen (JPY) 13.6% weight
  • Pound sterling (GBP), 11.9% weight
  • Canadian dollar (CAD), 9.1% weight
  • Swedish krona (SEK), 4.2% weight
  • Swiss franc (CHF) 3.6% weight

History

USDX started in March 1973, soon after the dismantling of the Bretton Woods system. At its start, the value of the U.S. Dollar Index was 100.000. It has since traded as high as 164.7200 in February 1985, and as low as 70.698 on March 16, 2008.

The make up of the "basket" has been altered only once, when several European currencies were subsumed by the euro at the start of 1999. Some commentators have said that the make up of the "basket" is overdue for revision as China, Mexico, South Korea and Brazil are major trading partners presently which are not part of the index whereas Sweden and Switzerland are continuing as part of the index.{{citation needed|date=March 2018}}

Year (last business day) DXY Close Factors Driving Dollar's Value[6]
1967 121.79 Gold standard kept dollar at $35/oz.
1968 121.96
1969 121.74 Dollar hit 123.82 on 9/30.
1970 120.64 Recession.
1971 111.21 Wage-price controls.
1972 110.14 Stagflation.
1973 102.39 Gold standard ended. Index created in March.
1974 97.29 Watergate.
1975 103.51 Recession ended.
1976 104.56 Fed lowered rate.
1977 96.44
1978 86.50 Fed raised rate to 20 percent to stop inflation.
1979 85.82
1980 90.39 Recession.
1981 104.69 Reagan tax cut.
1982 117.91 Recession ended.
1983 131.79 Tax hike. Increased defense.
1984 151.47
1985 123.55 Record of 163.83 on March 5.
1986 104.24 Tax cut.
1987 85.66 Black Monday.
1988 92.29 Fed raised rates.
1989 93.93 S&L Crisis.
1990 83.89 Recession.
1991 84.69 Recession.
1992 93.87 NAFTA approved.
1993 97.63 Balanced Budget Act.
1994 88.69
1995 84.83 Fed raised rate.
1996 87.86 Welfare reform.
1997 99.57 LTCM crisis.
1998 93.95 Glass-Steagall repealed.
1999 101.42 Y2K scare.
2000 109.13 Tech bubble burst.
2001 117.21 Dollar rose to 118.54 on 12/24 after 9/11 attacks.
2002 102.26 Euro launched as a hard currency at $.90.
2003 87.38 Iraq War. JGTRRA.
2004 81.00
2005 90.96 War on Terror doubled debt. It weakened the dollar.
2006 83.43
2007 76.70 Euro rose to $1.47.
2008 82.15 Record low of 71.30 on 3/17.
2009 77.92 ECB lowered rates.
2010 78.96 QE2.
2011 80.21 Operation Twist. Debt crisis.
2012 79.77 QE3 and QE4. Fiscal cliff.
2013 80.04 Taper tantrum. Government shutdown. Debt crisis.
2014 90.28 Ukraine crisis. Greek debt crisis.
2015 98.69 Fed raised rates.
2016 102.21
2017 92.12 EU strengthened.
2018 96.17 Dow falls.

Quotes

ICE provides live feeds for Dow Futures that appear on Bloomberg.com,[7] Money.CNN.com,[8] DollarIndex.org.[9] USDX is updated whenever U.S. Dollar markets are open, which is from Sunday evening New York City local time (early Monday morning Asia time) for 24 hours a day to late Friday afternoon New York City local time.

Calculation

The U.S. Dollar Index is calculated with this formula:

{{math|USDX}} = {{math|50.14348112}} × {{math|EURUSD-0.576}} × {{math|USDJPY0.136}} × {{math|GBPUSD-0.119}} × {{math|USDCAD0.091}} × {{math|USDSEK0.042}} × {{math|USDCHF0.036}} [10]

Trading

The Index can be traded as a futures contract on the ICE exchange. It is also available indirectly in exchange-traded funds (ETFs), options, CFDs and mutual funds.

See also

  • Trade Weighted US dollar Index
  • Special drawing rights
  • Dow Jones FXCM Dollar Index
  • Wall Street Journal Dollar Index[11]

References

1. ^{{cite web|title=U.S. Dollar Index - USDX|url=http://www.investopedia.com/terms/u/usdx.asp|publisher=Investopedia|accessdate=23 March 2013}}
2. ^{{cite web|title=US Dollar Index Hits 12-Year High As ECB Unveils €1 Trillion Stimulus |url=http://www.fxtimes.com/us-dollar-index-hits-12-year-high-as-ecb-unveils-e1-trillion-stimulus|publisher=FXTimes|accessdate=23 March 2015}}
3. ^{{cite web|title=US Dollar Index|url=http://www.fxstreet.com/rates-charts/usdollar-index/|publisher=FXStreet|accessdate=23 March 2013}}
4. ^{{cite web|url=https://www.theice.com/products/194/US-Dollar-Index-Futures|title=U.S. Dollar Futures|quote=The U.S. Dollar Index, together with all rights, title and interest in and related to the U.S. Dollar Index, including all content included therein (including, without limitation, it’s formulation, components, values, weightings and methods of calculation), and all related intellectual property and property rights, is the exclusive property of ICE Futures U.S., Inc.|accessdate=22 July 2017}}
5. ^{{cite web|url=http://tsdr.uspto.gov/#caseNumber=74350026&caseType=SERIAL_NO&searchType=statusSearch|author=United States Patent and Trademark Office|title=Trademark Search, Serial Number 74350026|accessdate=22 July 2017}}
6. ^[https://www.thebalance.com/u-s-dollar-index-historical-data-3306249 US Dollar Index®, What It Is, and Its History]
7. ^Bloomberg https://www.bloomberg.com
8. ^CNN Money http://money.cnn.com
9. ^Dollar Index https://dollarindex.org
10. ^{{cite web|title=U.S. Dollar Index® Contracts | page=2 | year=2018 | accessdate=October 15, 2018 | url=https://www.theice.com/publicdocs/futures_us/ICE_Dollar_Index_FAQ.pdf}}
11. ^{{cite web|title=Wall Street Journal Dollar Index|url=http://quotes.wsj.com/index/XX/BUXX|publisher=Dow Jones & Co.|accessdate=2013-07-24}}

External links

  • USDX Quotes

3 : 1973 introductions|Economic indicators of United States currencies|Foreign exchange market

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