The US Dollar Index (DXY) measures the US dollar's value against a weighted basket of six major currencies — the euro carries by far the largest weight, followed by the yen, pound, Canadian dollar, Swedish krona, and Swiss franc. It's a widely used shorthand for overall dollar strength or weakness, independent of any single currency pair.
Because the euro dominates the basket, DXY often moves closely (inversely) with EUR/USD, but it can diverge when the dollar is moving for reasons specific to one of the other five currencies.
US Dollar Index (DXY)
An index tracking the US dollar against a weighted basket of six major currencies — the standard shorthand for overall dollar strength.
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