The greenback is on the march higher.
Last Friday, the U.S. Dollar Index (which tracks the greenback against a basket of major trading partners’ currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc) leapt to a four-year high.
The Dollar Index has spiked over 7% in just the third quarter alone. Just look at how the closely related PowerShares DB US Dollar Bullish ETF (UUP) — an exchange-traded fund that tracks the Deutsche Bank Long US Dollar Futures index — has performed over the past three months.
The dollar’s move has been particularly strong against the euro, as well as against the yen. The greenback now is at a six-year high vs. Japan’s once-mighty currency.
Read more about the recent success of the U.S. dollar at Eagle Daily Investor.
