The U.S. dollar remains the leading worldwide reserve currency in late 2023. The dollar index measures the U.S. currency against a basket of other reserve foreign exchange instruments, including the euro, British pound, Japanese yen, Canadian dollar, Swedish krona, and Swiss franc. Before the dollar took the leadership role, the British pound was the world’s top currency. Today, the euro is the second-leading reserve currency, and the dollar index has a 57.6% exposure to the European foreign exchange instrument.
In an October 11, 2023, Barchart article on the dollar index, I mistakenly wrote:
