A rising USD index (DXY) typically means the dollar is strengthening against all major currencies simultaneously. Tracking USD/EUR and USD/GBP together gives a real-time feel for dollar momentum.
From 2022-2024, the dollar surged against both euro and pound as the Fed hiked rates faster than ECB or BoE. When US rate differentials narrow (2024-2026), the dollar has weakened against both.
For expats and travelers: a strong dollar means your savings go further abroad — 2022-2024 was an ideal time for Americans traveling to Europe or UK. A weakening dollar means the opposite. Lock in foreign travel costs (via prepaid hotels, forex cards) when the dollar is strong.