The USD is the most traded currency on the Forex market, with a dominating presence in 88% of all foreign-exchange transactions as of 2022. It is widely referred to as the dollar, buck, or greenback. The USD serves as a reserve currency for numerous central banks globally and is considered a commodity currency due to its role in pricing major resources like oil. The U.S. Dollar Index (USDX) is a crucial tool, providing insights into the performance of the USD against a basket of major currencies​