The weaker euro also helps support the local economy as the exporters are a major facet of the Eurozone economy. A weakening EUR makes it Eurozone goods cheaper in foreign markets and easier to sell.

Additionally, the Federal Reserve has already stated it will implement an interest rate hike sometime this year, with some observers anticipating a rate change sometime in December if not later this month. A tighter Fed monetary policy would also help strengthen the U.S. dollar against foreign currencies or cause the EUR to depreciate against the USD.

ProShares Short Euro

For more information on the EUR currency, visit our euro category.

Max Chen contributed to this article.