Euro exchange traded funds (ETFs) pulled back from 52-week highs Thursday after the European Central Bank raised a key interest rate as expected and ECB President Jean-Claude Trichet in a news conference wasn’t clear about whether more rate hikes are on the way.

CurrencyShares Euro Trust (NYSEArca: FXE), an ETF pegged to the euro’s movements against the dollar, was down 0.5% in premarket. [Euro ETFs In Focus After Rate Hike.]

The euro hit a 15-month high this week as traders have been bidding the currency higher on expectations the ECB would raise rates.

PowerShares DB US Dollar Bullish Fund (UUP), which rises when the dollar strengthens versus rivals, was up fractionally before Thursday’s opening bell.

CurrencyShares Euro Trust

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.

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