Exchange traded fund (ETF) provider WisdomTree, which already has a robust line of currency funds, is gearing up for more such ETFs. One will track the U.S. dollar while the other is designed to track commodity currencies.

WisdomTree has announced its intent to launch two new currency ETFs, writes ETF Professor for Benzinga.

The WisdomTree Rising Dollar Fund will track the an appreciating U.S. dollar against 15 currencies from developed and emerging markets. It will in theory compete with the PowerShares DB U.S. Dollar Bullish (NYSEArca: UUP), but the two funds differ in construction. UUP is designed to replicate the performance of being long on the dollar against six major currencies.

Friday’s jobs report,  however, could keep the dollar weak for the time being if the Fed keeps rates where they are. The unemployment rate stands at 10%. [The U.S. dollar ETFs.]

Albert Bonzo at CNBC believes that the dollar will likely gain ground against other G7 currencies, but is expected to remain weak compared to the currencies driven by commodity-based economies such as Brazil, Canada and Australia. [Dollar ETF’s next move.]

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