For the purpose of studying multiple currencies and analyzing their mutual interaction, we created a hypothetic currency, the International Currency Composite Index, and nicknamed it the Mundo for short. We gave it a fictitious ISO designation of ICU. The Mundo will be used to represent the overall currency market similar to the existing stock market composite indices. Initially, we will arbitrarily define the prevailing price of the Mundo is as the arithmetic average price of the ten most frequently traded major and minor USD currency pairs: EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, AUDUSD, NZDUSD, USDSEK, USDNOK and USDDKK.
The MUNDO value will be updated daily on the FxPraxis Homepage.
|