Dollar ETF Under Renewed Pressure as Shutdown Looms

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An exchange traded fund (ETF) following the dollar’s movements fell nearly 1% on Friday to a fresh 52-week low as investors braced for a U.S. government shutdown over the budget gridlock.

PowerShares DB US Dollar Bullish Fund (NYSEArca: UUP) closed the session down 0.8%, one day after the European Central Bank boosted a key interest rate as expected.

CurrencyShares Euro Trust (NYSEArca: FXE) gained over 1% Friday after a slight loss the previous session.

PowerShares DB US Dollar Bullish Fund was down 7.2% for the three months ended April 7, according to Morningstar, as commodities prices have rallied.

PowerShares DB US Dollar Bullish Fund

Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.