On the other hand, if the ECB does not make a decision on quantitative easing this week, those who “buy the rumor, sell the fact” may want to take a look at the other side of the currency trade with ETF options.

For instance, for further U.S. dollar weakness, the PowerShares DB US Dollar Index Bearish Fund (NYSEArca: UDN) takes the inverse or short performance of the U.S. dollar against the same basket of six major currencies as UUP.

Furthermore, the ProShares Ultra Euro (NYSEArca: ULE) and Market Vectors Double Long Euro ETN (NYSEArca: URR) both take the double or 200% performance of the USD price of the euro.

PowerShares DB U.S. Dollar Index Bullish Fund

For more information on global currencies, visit our currency ETFs category.

Max Chen contributed to this article.