24 August 2012

US Dollar Intermediate Term Chart

Because of the way in which it is constituted, the US Dollar DX Index is largely the 'inverse Euro' chart with some yen and pound and franc thrown in.

Because of that, and as I have noted previously, the index is becoming less meaningful as other currencies, which are not accounted for at all in the index, especially those from the BRICs, gain more importance to the world monetary system. 

And of course the Index represents no commodities including gold and silver.