“We could get some further weakness in the dollar versus the euro and yen, but those two are mainly along for the ride. Most of the weakness will be concentrated on emerging currencies,” Stephen Gallo, a strategist with BMO, told Reuters.
The actively managed WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSEArca: USDU), which tracks the USD against a broader basket of developed and emerging market currencies, has experienced a steeper decline of 1.5% over the past week
Meanwhile, the WisdomTree Emerging Currency Strategy Fund (NYSEArca: CEW) jumped 3.7% over the past week and gained 0.6% Monday. CEW tracks the U.S. dollar against the Mexican Peso, Brazilian Real, Chilean Peso, Colombian Peso, South African Rand, Polish Zloty, Russian Ruble, Turkish New Lira, Chinese Yuan, South Korean Won, Indonesian Rupiah, Indian Rupee, Malaysian Ringgit, Philippine Peso and Thai Baht.
PowerShares DB U.S. Dollar Index Bullish Fund
For more information on the USD, visit our U.S. dollar category.
Max Chen contributed to this article.