6 Currencies That Have Weakened Against the Strengthening US Dollar in the Past Year (July 18, 2022)

The United States dollar (USD) has demonstrated its strength against major world currencies amid global economic uncertainty. This is reflected in the US dollar index against six major world currencies (DXY), which has risen over the past year.

Based on data from *Yahoo Finance*, the DXY was at 106.6 on Wednesday, July 20, 2022, at 13:15 WIB (Western Indonesian Time). This level is up 14.66% compared to its position on July 20, 2021 (year-on-year/YoY).

This means that the US dollar has strengthened by an average of 14.66% against six major world currencies. These six major world currencies are the Euro (EUR), the British pound (GBP), the Swiss franc (CHF), the Canadian dollar (CAD), the Japanese yen (JPY), and the Swedish krona (SEK).

The yen was most affected by the US dollar's strength. In the past year, the Japanese currency has depreciated by 26.1% (YoY) to JPY 138.13 per USD. This was followed by the Swedish krona, which weakened by 17.71% (YoY) to SEK 10.23 per USD, and the Euro, which weakened by 13.23% (YoY) to US$1.02.

The British pound depreciated by 12.14% (YoY) to US$1.20, the Swiss franc weakened by 5.24% to US$1.03, and the Canadian dollar also weakened by 0.95% (YoY) to CAD 1.29 per USD.

The rise in The Fed's interest rates has made the US dollar more attractive to investors. The interest rate differential between the US dollar and other major currencies has also widened.