PowerShares DB USD Bear ETF (UDN) - NYSEARCA
  • Dec. 5, 2011, 7:16 AM

    "Between a trickle and a flood," is how one private banker describes the move out of euros into other currencies by the EU's wealthiest investors. The greenback and the yen are favorites, with London property also popular. But Italy just banned cash transactions over €1K euros. Capital controls coming soon?

    | Dec. 5, 2011, 7:16 AM
  • Dec. 1, 2011, 11:49 AM
    The greenback and the euro quickly surge higher vs. the Swiss franc on a rumor the SNB is considering additional weakening steps, including the imposition of negative interest rates. FXF -0.3%.
    | Dec. 1, 2011, 11:49 AM
  • Nov. 30, 2011, 9:00 AM

    Today's swap move explained: The ECB (for example) can sell euros to the Fed in exchange for dollars at the prevailing market rate, at the same time agreeing to buy back said euros at the same rate. The swap refers to the cost to the ECB for doing such, and today's action lowers it 50 bps. "It's a global effort to add dollar liquidity," writes Quint Tatro, hence, dollar down, assets up.

    | Nov. 30, 2011, 9:00 AM | 3 Comments
  • Nov. 27, 2011, 3:59 PM

    "The Fed has the authority to buy foreign government debt," said Ben Bernanke in 2002. "Potentially, this class of asset offers huge scope for Fed operations." With the ECB's hands apparently tied as the eurozone crisis threatens to spiral out of control, has the time come for the Chairman to step in? "The Fed needs to buy up every single European bond owned by every single American financial institution for cash," says Brad DeLong.

    | Nov. 27, 2011, 3:59 PM | 47 Comments
  • Nov. 21, 2011, 11:19 AM
    Wild action in the currency markets where the euro is having none of this "risk off" action, soaring in the past few minutes to $1.3521, unchanged for the day. The other "risk" currencies - the aussie, the loonie, the real, the peso ... all remain sharply lower. Something's up.
    | Nov. 21, 2011, 11:19 AM | 5 Comments
  • Nov. 21, 2011, 8:59 AM

    Not fazed by 0% interest rates, money is headed to the U.S., with foreign bank deposits at the Fed more than doubling to $715B from $350 at 2010's end. "There's not anything close to a substitute and part of it is the deepness of the market, the liquidity," says a fund manager. "There's a perception, right or wrong, that we're going to make good on all our assets."

    | Nov. 21, 2011, 8:59 AM | 3 Comments
  • Nov. 17, 2011, 5:18 AM
    With China laying the groundwork for internationalization of the yuan, the renminbi could "mount a challenge" to the dollar in 5-10 years, a Congressional report says. The yuan still has much catching up to do, though, as it accounts for 0.3% of international currency trading while the dollar is involved with 85%.
    | Nov. 17, 2011, 5:18 AM
  • Nov. 11, 2011, 4:15 PM
    Beware the simple explanation, writes Mark Dow, discussing currency movements. The dollar's decline has little to do with Ben Bernanke, and is more about a secular move begun in 2002 as those in emerging markets felt more comfortable holding domestic currency. The dollar still makes up 63% of global reserves, but the U.S. is just 20% of global output. There's a lot more to go.
    | Nov. 11, 2011, 4:15 PM
  • Nov. 11, 2011, 12:58 PM

    The Swiss franc dives against both the euro and greenback after the SNB's Jean-Pierre Danthine hits the wires saying the back is prepared to take further measures to weaken the currency. Chatter abounds the SNB is to move the euro/franc floor from  CHF 1.20 to CHF 1.30. The euro currently buys CHF 1.24, +0.5%.

    | Nov. 11, 2011, 12:58 PM
  • Oct. 27, 2011, 9:25 AM

    A check of the currency markets shows the dollar longs getting fried in both the "risk on" and the "risk off" currencies. Risk on: The aussie +2.8% to $1.0685 (was $0.94 3 weeks ago!). Risk off: the greenback -1.9% vs. the swiss franc to CHF 0.8640, and don't forget a new low vs. the yen. UUP -1.4% premarket.

    | Oct. 27, 2011, 9:25 AM
  • Oct. 21, 2011, 9:57 AM
    The pummeling of the dollar may be the most important news of the day, which sniffs of additional Fed QE rather than Europe having solved its issues. A speech last night from the Fed's Daniel Tarullo arguing for additional MBS purchases looks to be the catalyst.
    | Oct. 21, 2011, 9:57 AM
  • Oct. 18, 2011, 12:05 PM
    "Dollar, dollar, dollar," says top notch FX strategist (now heading his own hedge fund) Stephen Jen, when asked by Dow Jones about his three favorite currencies to buy. He sees the greenback rallying against all of the "risk" currencies, with the euro falling to $1.25 within six months. Euro: FXE, Aussie, FXA, Real: BZF.
    | Oct. 18, 2011, 12:05 PM | 1 Comment
  • Oct. 12, 2011, 10:27 AM
    Check out the remarkable moves in currencies (aussie +300 pips in 12 hours!) and key commodities starting right about the time China opened for business last night  This rally may have little to do with Europe and everything to do with China showing signs of opening the spigots again. Chinese shares +3%. RE ETF: TAO +5.1%.
    | Oct. 12, 2011, 10:27 AM
  • Oct. 10, 2011, 1:19 PM
    China allows the biggest one-day jump in the yuan since July 2005 - perhaps a conciliatory message to the U.S., where Congress is threatening to punish Beijing over the currency. Maybe this easing of concerns over a trade war is behind today's rally (also, China is buying bank shares).
    | Oct. 10, 2011, 1:19 PM
  • Oct. 10, 2011, 7:56 AM
    European shares are staging a tepid rally (Stoxx 50 +0.6%) in the wake of news Merkozy is planning a plan and the Dexia nationalization, but the euro is romping, +1.5% vs. the dollar to $1.3575. The greenback is sharply lower against nearly all of the major currencies, the dollar index -1.2%.
    | Oct. 10, 2011, 7:56 AM | 1 Comment
  • Oct. 7, 2011, 8:44 AM
    The dollar is diving against most major currencies. The euro crosses above the $1.35 level for the first time this month. The loonie is the big winner so far today, +1.2%, as the NFP number combines with a big beat in the Canadian employment report.
    | Oct. 7, 2011, 8:44 AM | 1 Comment
UDN Description
The PowerShares DB US Dollar Bearish Fund (Symbol: UDN) is based on the Deutsche Bank Short US Dollar Index (USDX®) Futures Index™ (DB Short USD Futures Index). The Index, which is managed by DB Commodity Services LLC, is a rules-based index composed solely of short USDX® futures contracts. The USDX® futures contract is designed to replicate the performance of being short the US Dollar against the following currencies: Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. You cannot invest directly in an index. Ordinary brokerage commissions apply.
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