Related: Getting Paid to Minimize Currency Risk

Additionally, the Swiss National Bank still views the franc as overvalued despite negative interest rates and the European Central Bank is looking to keep a lid on the euro, although the common currency has been a solid performer this year.

“Thin said he remains bullish on the dollar despite its 6 percent decline this year, and that one of the biggest drivers behind what he calls this ‘stalling’ in the currency is a handful of recent soft U.S. economic data,” according to CNBC.

Year-to-date, investors have pulled $245.3 million from UUP.

For more information on the USD, visit our U.S. dollar category.