Dollar ETF Could be Ready to Rally

“Nonetheless, hedge funds have reduced their long positions in U.S. dollar index futures, a basket of several currencies that trade against the greenback,” according to Yahoo Finance.

Bill Baruch, chief market strategist at iiTrader, says in the Yahoo article that the Fed could give way to its more hawkish voices and that there are not many sellers left to punish the U.S. Dollar Index.

“Baruch sees support in the dollar index around the 93 level from where it bounced several times in the past two years,” according to Yahoo Finance.

PowerShares DB U.S. Dollar Index Bullish Fund