Former Fed Chairman Ben Bernanke hinted at QE2 as the euro was approaching its seasonal sweet spot in 2010 while Operation Twist was unveiled right around the time of the euro’s favorable seasonal period in 2011. In 2012, Bernanke would start QE3 speculation during the euro’s seasonally strong period.

This year, there will be no such announcements from the Fed. Add to that, 2014 is the first time in the euro’s 15-year history that the European Central Bank is actively engaged in monetary easing.

Still, some investors are betting on the idea of a euro rebound. FXE took in almost $6.3 million in new assets last week, but is still lighter by nearly $23 million for the year. However, $6.3 million is nothing compared to the nearly $155 million investors poured into the PowerShares DB US Dollar Index Bullish Fund (NYSEArca: UUP) last week.

CurrencyShares Euro Currency Trust