ETF traders jumping on dollar trend
Three months ago, in early May, the UUP bullish dollar fund held 27 times more assets than the UDN bearish dollar fund. Since then, traders have left UUP and over the past week, in particular, poured into UDN, betting on a further fall in the buck. Now UUP holds less than 5x the assets of UDN. That's the lowest since April 2011, falling below the prior extreme of 5.1x in late December of last year.