PowerShares DB US Dollar Index Bullish (NYSEArca: UUP) was among the ETFs that saw the heaviest outflows this year as the greenback weakened against most major currencies.
The ETF, which tracks the movement of the dollar against a basket of currencies, has posted outflows of $1.2 billion year to date. It is fifth on the list of most-sold ETFs in 2012 in terms of dollar amount, according to IndexUniverse.
In fact, UUP’s outflows this year are more than its current assets under management: $662.3 million.
From a price standpoint, the dollar ETF is down about 3% year to date.
Now, a bearish technical pattern is forming in the Dollar Index that could push the greenback lower in 2013, which would provide a tailwind for stocks. [Dollar ETF Higher After QE3]
The US Dollar Index was all over the place in 2012, but ended the year slightly lower than where it started, writes Arthur Hill at StockCharts.