Mired in the muck of slumping gold and oil exchange traded products is a silver lining: The resurgence of the U.S. dollar.

Bolstered by improving U.S. economic data and flailing currencies in Europe, the PowerShares DB U.S. Dollar Index Bullish Fund (NYSEArca: UUP), which acts a U.S. Dollar Index tracking ETF, is up nearly 2% in the past month.

The actively managed WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSEArca: USDU), which currently tracks the USD against the euro, yen, Canadian dollar, U.K. sterling, Mexican peso, Australia dollar, franc, South Korean won, Chinese yuan and Brazilian real, is higher by 1% over the same period and more gains could be on the way for both ETFs. [Data Lifts Dollar ETFs]

“The U.S. Dollar has rallied a few percent higher over the past two months, taking it up to an 11-year falling resistance line. The rally has seen the bullish percentage increase to 77%,” notes Chris Kimble of Kimble Charting Solutions. “The Swiss Franc is on 13-year support with just 25% of investors bullish at this time. Also note the decline in the Euro of late has impacted sentiment too, just 22% bulls.”

The safe-haven CurrencyShares Swiss Franc Trust (NYSEArca: FXF) has dipped 1.4% over the past month, but the real weakness in European currencies that is benefiting UUP and USDU comes courtesy of the British pound and euro.

The CurrencyShares British Pound Sterling Trust (NYSEArca: FXB) has tumbled 2.4% over the past month and is off 4.2% since hitting its 2014 high on July 2. Recent meeting minutes from the Bank of England indicate a U.K. rate hike may be further off than previously expected, which has pressured sterling while providing a boost to dollar ETFs.