The PowerShares DB US Dollar Index Bullish (NYSE: UUP), the U.S. Dollar Index tracking exchange traded funds, and the actively managed WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSE: USDU) are up 3.2 percent and 4.7 percent, respectively, year-to-date.
Those gains have been fueled in large part by market participants baking into the dollar an interest rate hike by the Federal Reserve, something the central bank eschewed at the conclusion of its September meeting Thursday.
Post-Meeting Reactions
The immediate reaction was forgettable for the greenback and ETFs such as UUP and USDU. However, on Friday the dollar ETFs are trading higher, led by a gain of half a percent at this writing for UUP.
What that says is that the door is still open to a rate hike sometime this year, either at the Fed's October or December meetings. More good news for UUP and USDU: Expectations for a 2015 rate hike were ...
/www.benzinga.com/trading-ideas/long-ideas/15/09/5850194/dollar-etfs-really-need-interest-rates-to-rise-this-year alt=Dollar ETFs Really Need Interest Rates To Rise This Year>Full story available on Benzinga.com
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