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.

The opinions and forecasts expressed herein are solely those of John Spence, 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.