Two main factors move currencies: the relative growth of monetary bases and the relative growth of the underlying economies using those currencies. [Chart of the Day: Euro ETFs]

The U.S. dollar is still a reserve currency and is viewed as a safe haven. For the long term, Morningstar analysts are predicting a weak greenback as the United States has current account and budget deficits. [ETFs That Track the U.S. Dollar]

Alternative ETF choices include:

  •  PowerShares DB G10 Currency Harvest (NYSEArca:DBV)
  • WisdomTree Dreyfus Emerging Currency (NYSEArca: CEW)
  • WisdomTree Emerging Markets Local Debt (NYSEArca: ELD)
PowerShares DB US Dollar Index Bearish 

Tisha Guerrero contributed to this article.