Greenback Rising (UUP)
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PowerShares DB US Dollar Index Bullish (NYSE: UUP) is up 1 percent today, as equities and commodities were shunned. Investors are once again pumping money into U.S. bonds and the greenback, and the U.S. dollar is becoming the preferred safe-haven play given negative macro trends including slowing growth in China and Europe.
The shift in sentiment began in the second quarter of 2011 and has accelerated into 2012. The USD Index will be looking to test resistance at 83.50 near term, and a break could signal a fresh round of buying interest.
The shift in sentiment began in the second quarter of 2011 and has accelerated into 2012. The USD Index will be looking to test resistance at 83.50 near term, and a break could signal a fresh round of buying interest.
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