The dollar might be enjoying some heady days right now – PowerShares DB U.S. Dollar Bullish (NYSEArca: UUP) is up 6.2% year-to-date – it may not last forever. Here are a few exchange traded fund (ETF) strategies to cope if weakness presents itself.

Although the U.S. dollar looks like it’s regaining strength, the fact remains that there are turbulent days ahead. There are plenty of ETFs to help curb any losses that may be waiting related to the U.S. dollar. The thought of a falling greenback may make you cringe, but the prospect of this happening is a real one.

Many feel that the dollar’s direction for the long haul is down, says Andrew Tanzer for Kiplinger. This is especially so, given the billions that have been poured into the economy in order to stave off a depression. We could continue to see slow growth, high unemployment and inflation down the line, and it all points to one thing: when the dollar declines, you’ll want to diversify. [Why the U.S. Dollar Is a Safe Haven.]

For more stories about the U.S. dollar, visit our U.S. dollar category.

Tanzer says that you can hedge your dollar exposure by investing in ETFs and exchange traded notes (ETNs) primarily in these three categories: currencies, commodities and equities. [For Now, the U.S. Dollar ETF Has Its Moment.]

A few ETFs you can choose from include:

  • WisdomTree Dreyfus Emerging Currency Fund (NYSEArca: CEW)
  • SPDR Gold Shares (NYSEArca: GLD)
  • iPath Dow Jones-UBS Commodity Index (NYSEArca: DJP)
  • Market Vectors RVE Hard Assets ETF (NYSEArca: HAP)
  • iShares S&P Global Materials Sector (NYSEArca: MXI)
  • Market Vectors Agribusiness ETF (NYSEArca: MOO)

Tisha Guerrero contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.