United States
DXY Dollar Index
DXY Dollar Index, 1973 = 100, Updates Daily
The DXY Dollar Index measures 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 relative to the following currencies: EUR (57.6%), JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), CHF (3.6%). The index is widely followed by traders and media as an indicator of the dollar’s strength, but is no longer representative of the dollar’s value in trade-weighted terms - China, Mexico, South Korea, and Brazil have superseded Sweden and Switzerland as important trading partners.
United States
Trade-Weighted Dollar
Trade-Weighted Dollar Indices, Updates Daily
The Federal Reserve Nominal Advanced Economy Dollar Index is a weighted average of the foreign exchange value of the US dollar against a group of the country’s most important industrialized trading partners. The Real Broad Dollar Index is a weighted average of the consumer price index-adjusted foreign exchange value of the dollar against the currencies of a broad group of major trading partners.
United States
Year to Date Performance
Nominal Dollar Gain (+) / Loss (-) Against Foreign Currencies, % Year to Date, Updates Daily
Represents the percentage change, along with the minimum and maximum change in the nominal exchange rate relative to the US dollar year to date.
United States
Currency Volatility
Realized 3-Month Historical DXY Volatility v. Implied Volatility, 3-Month ATM Options, Updates Weekly
Represents realized volatility - the scale and frequency of moves over the prior three months - and implied volatility - the market’s expectations of moves over the next three months. Realized volatility is measured using the annualized standard deviation of daily returns over a three-month rolling time horizon, and implied volatility is derived from at-the-money three-month currency options.
United States
Annual Movement
Year-To-Date % Change in DXY, Adjusted for Breaks, Updates Daily
Historical Movement compares this year’s exchange rate movement – the thick white line – with movement in previous years – the thinner blue lines – to illustrate the degree to which the rate has moved. Performance is equal to the percentage gain or loss in the exchange rate realized over the number of trading days shown on the horizontal axis.
United States
Speculative Positioning
Net Long (+) or Short (-) US Dollar Futures Position Held by Large Speculators, Billions US Dollars, Updates Weekly
The Commodity Futures Trading Commission's weekly Commitments of Traders report provides a breakdown of the net positions for "non-commercial" (speculative) traders in US futures markets. Market participants follow the data to identify extreme long or short positions in a currency - something that can signal a trend reversal.
United States
DXY-Weighted Yield Differential
US-Foreign 10-Year Government Bond Yield Differential, %, Updates Weekly
Represents the difference between the 10-year US Treasury yield and a weighted basket of 10-year yields for the Euro Area, Japan, the UK, Canada, Sweden, and Switzerland. Positive values indicate higher yields in US dollars relative to other currencies, while negative values imply the opposite.
Latest Analysis
Let's make a deal (round #5)
06 May, 2026
• Positive vibes. Markets optimistic about an end to the US/Iran conflict. Oil lower, USD softer. NZD outperforms. AUD touched a fresh multi-year high.• Twists & turns. Spillovers from the conflict...
Playing musical chairs with global trade
06 May, 2026
American trade imbalances aren’t going away, just moving geographically
By the time Donald Trump entered the White House in 2017, faith in free trade among America’s elite had already collapsed....
Markets soar on hopes for Iran deal
06 May, 2026
The dollar is trading near its lowest levels in months, bond yields are plunging, and equity indices advancing after Axios reported that Washington and Tehran are nearing an agreement to end the war in...
RBA: Higher inflation & slower growth
05 May, 2026
The RBA continues to take few chances when it comes to the problematic domestic inflation trends with another interest rate hike announced today. This is the third consecutive meeting the RBA has tapped...
RBA hikes again. But it will come at a cost.
05 May, 2026
• Optimistic markets. Equities rose, oil dipped on positive US/Iran vibes. More volatility likely. USD softens. AUD whipped around by push/pull forces.• RBA hike. RBA announced its 3rd straight rate rise....
The US petrocurrency illusion
05 May, 2026
America produces more crude than anyone. That does not spare it—or the dollar—the consequences of an oil shock.
A comforting narrative has taken hold in Washington. The shale revolution, which transformed...
Ceasefire holds—symbolically, at least—relieving global markets
05 May, 2026
Good morning. Markets are steadying and crude prices are pulling back from their highs as the US and Iran avoid further escalation after a series of skirmishes in the Strait of Hormuz raised questions...
Confused narratives out of the Strait of Hormuz keep markets rangebound
04 May, 2026
Happy Monday. Oil prices are reverting higher and the dollar is holding steady after President Donald Trump announced plans to “guide”—but not escort—shipping through the Strait of Hormuz. US Central Command,...
Japan steps into FX markets
30 April, 2026
• JPY jump. USD weaker as Japanese officials intervene to prop up the very weak JPY. This & positive sentiment boosted the AUD & NZD.• Macro trends. Further bouts of JPY intervention possible....
Currency markets are roiled as noise level ramps up
30 April, 2026
Good morning. The dollar is beating a retreat from two-week highs as traders process the implications from four major central bank decisions, three critical economic data releases, another leg higher in...