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PowerShares DB USD Bull ETF (UUP)

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  • Apr. 3, 2012, 12:39 PM
    Central bank holdings of dollars increased 1.4% Q/Q and 9.9% Y/Y at the end of 2011, according to the latest IMF data. In contrast, central banks cut their holdings of euros by 1.5% during Q4, though still recording a Y/Y bump of 5.3%. (full table, .pdf)
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  • Apr. 2, 2012, 12:34 PM
    South Korea lowers the share of dollars in its fx reserves to 60.5% at the end of 2011 from 63.7% a year earlier, reports the Bank of Korea. It's the lowest level of dollar reserves since 2007. Central banks are under "pressure" to find assets with better returns, says a strategist.
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  • Mar. 30, 2012, 7:50 AM
    The dollar performs a full LoBagola in March, rising sharply through mid-month, but returning today right back to its starting point. Key to the turnaround were quick reversals in yen and euro weakness, likely helped by just a bit of wobble in risk markets and Fed chatter being interpreted as more easing on the way.
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  • Mar. 26, 2012, 9:08 AM
    Key to Bernanke's view of the economy is his belief cyclical rather than structural issues are behind the weakness in the labor market. "If this assessment is correct, then accommodative policies  to support the economic recovery will help address this problem." S&P 500 +0.6%, Gold +1%, Crude +0.2%, Copper +1.3%. UUP -0.3% premarket.
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  • Mar. 26, 2012, 8:39 AM
    The greenback is lower across the board on Bernanke's comments, currently being interpreted as a signal there are going to be a lot more of them floating about. Getting the biggest boost is the commodity-dependent aussie (FXA), +0.5% to $1.0520. UUP -0.25% premarket.
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  • Mar. 9, 2012, 9:07 AM
    The dollar is moving sharply higher against most major currencies following the jobs report. It's the opposite of recent market action where, perversely, strong U.S. economic news saw the greenback drop as money moved into "risk" assets, of which the euro, the pound, and the aussie are now thought of. The euro -1.1%, pound -0.7%, aussie -0.4%, yen -1.1%. UUP +0.8% premarket.
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  • Mar. 7, 2012, 12:34 PM
    Today's Fed leak should come as no surprise following yesterday's big sell-off, writes Josh Brown, especially as the leading GOP contender has made clear his displeasure with Bernanke. In addition to stocks, crude oil and gold got their tails in the air following the report. "The Fed is not playing games ... they want this market rolling higher. Fight it at your own peril."
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  • Feb. 17, 2012, 6:57 AM
    China and Japan pledge to promote direct exchange of their currencies for trade settlements. Regulations and custom have most trades being settled in greenbacks, but a bilateral working committee will encourage a boost in fx dealers, a review of current rules, and the setting up of a yuan trading center in Tokyo.
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  • Feb. 14, 2012, 9:21 AM
    The shale oil and gas booms have changed the trajectory of the U.S. current account deficit and the outlook for the dollar, writes UBS' Mansoor Mohi-Uddin. A U.S. in surplus means a lot less greenbacks floating around, meaning a stronger dollar - benefiting the American consumer, and calling into question the need for easy Fed policy.
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  • Feb. 3, 2012, 8:51 AM
    A spike in the euro following the big NFP number quickly reverses in a big way as traders realize it's not about "risk on," but instead about a U.S. economy getting strong vs. a still-weak EU - that's bullish for the dollar. Euro -0.2% at $1.3120.
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  • Jan. 24, 2012, 1:21 PM
    While the euro's slide vs. the dollar has tailed off of late, Nomura's Jens Nordvig reckons that the single currency will soon resume its fall. This is because as investors continue to cut their exposure to the eurozone, they'll take their money out of the region and put much of it in the U.S.
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  • Jan. 20, 2012, 3:52 PM
    Another week, another record net short position in the euro for non-commercial speculative traders, according to the CFTC. It's possible the euro's sharp rally this week shook out some of the shorts, but today's report only has data through the 17th. Next Friday's report should give a better read. (raw data here)
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  • Jan. 9, 2012, 8:51 AM
    An ex-punter who worked at Louis Bacon's Moore Capital, now former SNB chief Hildebrand was the key architect behind the bank's setting of the 1.20 floor under the euro's value (as measured against the franc). His trading acumen is likely one of the reasons the SNB's resolve on this line has yet to be tested. Euro/franc is now at CHF 1.2140, off a bit since the resignation announcement.
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  • Dec. 20, 2011, 5:05 AM
    Japan should consider holding Chinese government bonds as a way to strengthen ties between the two countries, says Japanese finmin Jun Azumi, marking the first clear indication that Japan intends to shift part of its foreign reserves into yuan-denominated Chinese debt. At the moment, Japan's $1.3T reserves are mainly denominated in dollars, with a small euro portion.
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  • 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?
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  • 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%.
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UUP Description
The PowerShares DB US Dollar Bullish Fund (Symbol: UUP) is based on the Deutsche Bank Long US Dollar Index (USDX®) Futures Index™ (DB Long USD Futures Index). The Index, which is managed by DB Commodity Services LLC, is a rules-based index composed solely of long USDX® futures contracts. The USDX® futures contract is designed to replicate the performance of being long 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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