The euro's decline has accelerated over concerns that Greece's debt
woes could spread to other eurozone members. Worries over Europe's
growing debt crisis are reverberating throughout the currency
exchange traded fund (
The U.S. dollar has risen to a new one-year high against the
euro as prospects of a widening debt crisis in the eurozone pushed
investors to a flight to quality toward the U.S. and Japanese
writes Joe Manimbo for TheStreet
PowerShares DB U.S. Dollar Bullish Fund (NYSEArca:
CurrencyShares Japanese Yen (NYSEArca:
Political uncertainty before a national election in the United
Kingdom has kept the British pound vulnerable. The pound dropped to
a five-week low against the U.S. dollar but gained against the
weakening euro. [
Buying the Euro?
CurrencyShares British Pound Sterling Trust (NYSEArca:
The Canadian dollar is close to a six-week low against the U.S.
dollar after a drop in market sentiment on the growing debt crisis
Currency Shares Canadian Dollar Trust (NYSEArca:
Most of these non-euro funds are ailing themselves these days.
The standout is the bullish U.S. dollar fund from
, which is up 3.5% in the last two weeks and 9.3% in the last six
months. It's clearly been the biggest beneficiary in the European
crisis. The yen is next in line, up just 0.4% for the last week,
but down 3.6% in the last six months. It's also 1.9% below its
200-day moving average.
Clearly, we need to wait for some trends to reappear here. [
How to Follow Trends.
The euro could be ailing for a while. Anxiety over eurozone
economies brought the euro down to 1.29 against the dollar,
report Sebastian Moffett and Alkman Granitsas for
The Wall Street Journal
The fiscal crisis in Greece has brought on a crippling national
strike that has turned into a violence in the face of new austerity
measures imposed by the government in exchange for about $143
billion in bailout loans. [
Euro and ETFs Slump As Greek Uprising
CurrencyShares Euro Trust (NYSEArca:
WisdomTree Dreyfus Euro (NYSEArca:
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Read the disclaimer
; Tom Lydon is a board member of Rydex|SGI.
Max Chen contributed to this article.