PowerShares Dollar Fund (UUP), U.S. Dollar Index Runs Into a Likely Ceiling

Joe Armstrong
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Posted on 02/05/10 at 5:41pm by Joe Armstrong

The PowerShares DB US Dollar Index Bullish Fund (NYSE: UUP), along with the U.S. Dollar Index (UDX), both rallied sharply on Friday....perhaps a little too well, in fact. The approximate 0.4% move higher from each one carried both the ETF as well as the index to levels where downside reversals are now very likely.

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