The analysis of currency exchange rates is of great importance to analyze the economic health of a country. In this paper, we collect and analyze the historical data on exchange rates of all available currencies, considering the US dollar as reference. In particular, we are interested in clustering the collected daily time series by using a similarity measure based on dynamic time warping. In total, the observations of 150 currencies, between January 3, 2005 and April 30, 2020, are analyzed. The results show that the use of dynamic time warping as a distance measure results in the improvement of the interpretability of the dendrograms, when compared with standard similarity measures such as the Euclidean distance.

中文翻译：

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使用基于动态时间扭曲的分层方法对世界货币汇率进行聚类

货币汇率分析对于分析一个国家的经济健康状况非常重要。在本文中，我们以美元为参考，收集并分析了所有可用货币的汇率历史数据。特别是，我们有兴趣通过使用基于动态时间扭曲的相似性度量对收集的每日时间序列进行聚类。总共分析了 2005 年 1 月 3 日至 2020 年 4 月 30 日期间对 150 种货币的观察。结果表明，与标准相似性度量（例如欧几里得距离）相比，使用动态时间扭曲作为距离度量可以提高树状图的可解释性。