dxy slips near 98.40 on expected interest rate hike by the Fed
The U.S. Dollar Index is an index of the value of the United States dollar relative to a basket of foreign currencies. These currencies are the Euro , Japanese Yen , British Pound , Canadian Dollar , Swedish Krona and Swiss Franc . The index started in 1973 -with the absolution of Bretton Woods- with a base of 100.000, and values since then are relative to this base. For example, if the current reading says 99.800, this means that the dollar has fallen 0.2% since the start of the index .
The US Dollar Index news can be seriously affected by the decisions taken by these organizations and people:. The Fed controls the monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.: events as administration statements, budget, new laws and regulations or fiscal policy can increase or decrease the value of the Dollar Index.
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