ETFs For The Euro's Decline (FXE, EUO)

With the Euro trading below $1.40 for the first time in six months, it might be wise to look at some ETFs to play this bearish trend with.

The CurrencyShares Euro Trust (NYSE: FXE) tracks the Euro and is down on the day. FXE has already traded more than half its average daily volume and is down more than 2% in the past month.

The inverse play is the UltraShort Euro ProShares ETF (NYSE: EUO), which has traded more than 254,300 shares today. That compares to average daily volume of 288,600 shares.

Fears of default on government debt in Europe have persisted, highlighted by Greece's precarious financial situation, and UBS is recommending a short play on the Euro with a target of $1.35.