The U.S. Dollar is on the move today given the strong overseas equity/currency swings and the headlines regarding Summers’ candidacy for Fed Chair, and we are watching related Currency based ETF UUP (PowerShares U.S. Dollar Index Bullish, Expense Ratio 0.50%) closely.
Trading as low as $21.87 this morning (previously low of $21.82 was touched twice since June, and the Dollar looks like it may be in jeopardy of trading back down to its early 2013 lows.
On the other hand FXE (CurrencyShares Euro Trust, Expense Ratio 0.40%) is breaking out higher this morning, up more than 0.50%.
In the past week or so, FXE has pulled in about $20 million in new assets but year to date the fund has lost $7 million.
UUP on the other hand has pulled in $180 million year to date despite the recent weak price action, bringing the total fund AUM to approximately $866 million as this ETF remains the “benchmark” for all intents and purposes in ETF land for the U.S. Dollar.