PowerShares DB US Dollar Bullish Fund (NYSEArca: UUP) was down 0.5% in early U.S. trading Thursday as the dollar fell to a three-year low.
The exchange traded fund (ETF), which follows the movement of the greenback against a basket of currencies, is down more than 6% so far this year on worries over the U.S. debt.
The dollar fell through a November 2009 low, while its all-time low was set in 2008 during the credit crisis, according to Reuters.
“In the ugly dog currency competition the dollar is looking like the really ugly dog. The euro zone at least looks to be doing something about their debt problems,” a London-based head of FX sales said, according to the report.
PowerShares DB US Dollar Bullish Fund
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