PowerShares DB US Dollar Bullish Fund (NYSEArca: UUP) gained 1% in midday trading Monday as the dollar strengthened versus a basket of foreign currencies even though Standard & Poor’s downgraded its credit view on the U.S.
Worries over Europe’s debt crisis and surging Greek bond yields appeared to trump the S&P warning on U.S. debt.
Exchange traded funds (ETFs) that follow the euro’s movements against the dollar were sharply lower Monday.
Still, the dollar has been in a steep downtrend lately. The PowerShares DB US Dollar Bullish Fund was off 5.5% year to date through the end of last week, according to Morningstar.
PowerShares DB US Dollar Bullish Fund
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