Categories: OLD Media Moves

WSJ rolls out Dollar Index

The Wall Street Journal, which created the Dow Jones Industrial Average more than 100 years ago to measure the broad U.S. stock market, has introduced The Wall Street Journal Dollar Index to provide a more precise measure of the U.S. dollar.

The WSJ Dollar Index was developed by the news team of DJ FX Trader, a specialized FX news service from Dow Jones, to further the service’s mission.

“The dollar defines and determines values across the world each day, so it is crucial to divine the value of the dollar itself,” said Robert Thomson, editor-in-chief of Dow Jones & Co. and managing editor of The Journal, in a statement. “No currency is an island and the dollar’s value is ultimately measured by its relationship with other key international currencies –- we have blended those pairs and weighted their worth to bring a more precise measure of the dollar’s value to the forex market.”

The WSJ Dollar Index is based on the latest data on total FX trading volume from the Bank for International Settlements, a supranational organization of central banks.

The index includes the seven most traded currency pairs, which each account for at least 1 percent of total trading volume and combined cover $2 out of every $3 traded in currency markets. The currencies are weighted based on their proportion of volume within the group of currency pairs used in the index.

The methodology and data used for the index set it apart from some existing market metrics that are based on fewer currency pairs or weight currencies equally.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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