Currency Affairs: US Dollar Index Bullish ETF

10/07/2008 1:25 pm EST

Focus: ETFS

PowerShares US Dollar Index Bullish (UUP)—this exchange-traded fund (ETF) is designed to replicate the performance of being long on the US Dollar against the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and the Swiss franc.

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From March to August, the dollar traded sideways against most currencies. But in early August, it picked up buyers and in one month broke into a bullish pattern.

Even though the financial crisis has its epicenter in the United States, the dollar is still the currency that the world runs to when there is trouble, so if you are an investor who believes that the dollar will remain strong you may want to own some shares of UUP.

By Sam Collins of OptionsZone.com

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