A weighted index of the dollar's value against six currencies: Euro (57.6%), Yen (13.6%), Pound (11.9%), CAD (9.1%), SEK (4.2%), CHF (3.6%). • Above 100: Strong dollar — increased EM debt burden, downward pressure on commodities • 90–100: Neutral zone • Below 90: Weak dollar — favors EM assets, commodities rise Strong dollar reduces US multinationals' overseas earnings, while weak dollar benefits emerging markets (including Korea). Closely correlated with Fed rate policy.