The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. DXY was originally developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index:Euro (EUR) 57.6% weightJapanese yen (JPY) 13.6% weightPound sterling (GBP) 11.9% weightCanadian dollar (CAD) 9.1% weightSwedish krona (SEK) 4.2% weightSwiss franc (CHF) 3.6% weight