ETF of the Week Invesco DB US Dollar Index Bullish Fund (UUP)
In May the U.S. dollar hit a two decade high, with rising interest rates offering support forward-looking. It reflects the increased risk aversion that investors are having in the current market environment, creating greater strength for the dollar as they move away from riskier assets.
When stacked up against foreign currencies, the dollar remains one of the strongest global currencies currently with the euro weakening on Russian oil embargo concerns while the Japanese yen remains at almost two-decade lows.
UUP tracks the value of the dollar relative to a basket of six major world currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc.
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