This is different to a currency index. Instruments such as the US Dollar Index are weighted indexes which compare the Dollar's value relative to a basket of other currencies. For instance, at the time of writing this the US Dollar index is weighted as follows: Euro 57.6%,Yen 13.6%, British Pound 11.9%, Canadian Dollar 9.1%, Swedish Krona 4.2%, Swiss Franc 3.6%.
Our meter is based on more pairs, and takes the average gain or loss over a couple of timeframes to give an overall strength. It doesn't calculate a price like an index does, it gauges the strength on a numerical scale.
Our meter is based on more pairs, and takes the average gain or loss over a couple of timeframes to give an overall strength. It doesn't calculate a price like an index does, it gauges the strength on a numerical scale.