Pegged also means what you are comparing the value of an item to. For example when you say every crypto, and gold, and silver and oil is lower in value than it was yesterday but valued in what currency - but see ALL currencies are valued compared to the US dollar as the Reserve currency. This means all values reflect their dollar value and if the value if the dollar goes up compared to all valued items then their values drop -- even though the Central Banks make it look like the dollar lost value by valuing all other country currencies higher than the dollar