The US Dollar Index rose significantly on January 18.

As a measure of the US dollar’s exchange rate against six major mainstream currencies, the US Dollar Index rose by 0.75% on the day, closing at 100.846 on the New York foreign exchange market. By the end of trading on the New York forex market, the euro-to-dollar exchange rate stood at 1 euro to 1.1459 US dollars, down from the previous trading day’s 1.1539 US dollars; the pound-to-dollar rate was 1 pound to 1.3203 US dollars, lower than the previous day’s 1.3338 US dollars.On the other hand, the dollar-to-yen exchange rate was 1 US dollar to 161.68 Japanese yen, up from the previous day’s 160.50 yen; the dollar-to-Swiss franc rate was 1 US dollar to 0.8051 Swiss francs, higher than the previous day’s 0.7971 Swiss francs; the dollar-to-Canadian dollar rate was 1 US dollar to 1.4140 Canadian dollars, up from the previous day’s 1.4071 Canadian dollars; and the dollar-to-Swedish krona rate was 1 US dollar to 9.5874 Swedish krona, a clear increase from the previous day’s 9.4610 Swedish krona.This sharp rise in the US Dollar Index mainly reflects a short-term increase in market demand for US dollar assets. Non-US currencies are generally facing temporary depreciation pressure, which is also related to changes in expectations around major economies’ monetary policies in the current global foreign exchange market.