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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.