The US dollar just had a rough week. The Bloomberg Dollar Spot Index, which tracks the greenback against a basket of 10 major currencies, dropped 1.2% over the past five trading days, landing near the 1,208 level.
Why the BBDXY matters more than you think
The one most people know is the ICE US Dollar Index, or DXY, which measures the buck against six major currencies. The Bloomberg Dollar Spot Index takes a wider view, tracking 10 currencies that represent roughly 81% of US trade and about 93.7% of daily foreign exchange volume.
The BBDXY rebalances annually on the last business day of June, and its broader basket, which includes emerging market currencies like the Brazilian real alongside developed market stalwarts, makes it a more nuanced gauge of dollar strength.
The dollar-Bitcoin inverse relationship
