USDINR and Dollar Indices

Introduction

The FRED publishes the following indices along with USDINR (DEXINUS):
DTWEXB: Trade Weighted U.S. Dollar Index: Broad
DTWEXM: Trade Weighted U.S. Dollar Index: Major Currencies
DTWEXO: Trade Weighted U.S. Dollar Index: Other Important Trading Partners

Can the spread between USDINR and these indices be traded?

Introduction: Part I, Part II

Back-test on daily returns

Should you bet on convergence, divergence of momentum?
Read: Part III

Back-test on weekly returns

Does the daily-return series analysis carry through to weekly returns?
Read: Part IV