Baku. 10 April. REPORT.AZ/ Dollar index has strengthened at psychological 100 level and now makes 101.1 points. Report informs, though dollar index, have passed this level in 2015 and 2016 years that was for short-term.
The US Dollar Index (USDX, DXY) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of US trade partners' currencies. Share of foreign currencies are as follows :
Euro (EUR), 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP), 11.9% weight
Canadian dollar (CAD), 9.1% weight
Swedish krona (SEK), 4.2% weight
Swiss franc (CHF) 3.6% weight.
The index calculated in March 1973 and the base value accepted as 100.
Analytical Group of Report in following graphic says that, It is possible for dollar to rise to the level of 112 and that means an increase in level of dollar against major currencies by an average of more than 12%: That is USD / EUR considered to be the major currency pairs at the level of 1.0580 in the medium term, the exchange rate can decrease to the level of 0.93 USD / EUR. Of course, dollar can be strengthened against one and weakened against other currencies. However, if dollar index exceeds the level of 112 it can reach 120 and also 130. "