Stocks have fallen into the bear market and cryptocurrency took a hit but with the Fed planning to hike interest rates the U.S. dollar against other currencies rose to the highest its been in twenty years. Fear of recession has boosted momentum for the greenback and a few ETFs are looking to make a play. The Invesco DB US Dollar Index Bullish Fund (UUP), the WisdomTree Bloomberg U.S. Dollar British Fund (USDU), and the iShares Russell 2000 ETF (IWM) are all currency ETFs looking to benefit from the increase.
ETF Newz Says:
The sudden increase can be somewhat attributed to fear of a global economic slowdown and the Fed hiking interest rates.