The U.S. Dollar Index is at a one year high as of Thursday morning, hitting slightly above the $95 mark.
Mike Santoli appeared on CNBC to discuss the Invesco DB US Dollar Index Bullish Fund (UUP), which tracks the U.S. Dollar Index and has slightly over 57% of its portfolio allocated to EUR/USD, followed by the Japanese Yen (JPY) at 13.6%, and the British Bound (GBP) at 11.9%.
“It’s interesting because the dollar is rallying right now, it’s not some single news item that seems to be propelling it. Obviously growth differentials, U.S. growth looks better, Fed on a tightening path even if it’s not going to be all that aggressive… the trade stuff is hitting dollar against the Chinese currency, and arguably against the Euro too,” said Santoli.
Watch the full clip below:
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