Look at the components!
"Components of the U.S. dollar index: 58% Euro; 13% Yen; 12% Pound; 9% Canadian dollar; 4% Swedish krona; 4% Swiss franc."
58% of the index is the Euro!
83% of the index is the Euro, Yen and Pound!
The Japanese and Brits are quantitative easers/money printers just like the USA.
The Euro is flawed by virtue of the weakness of many of its component countries' economies.
The Aussie, Swiss Franc, and Canadian Dollar would be at the top of my list.
No more UDN for me!
Heres my index: FXA 50%, FXC 20%, FXF 20%, and FXE 10%.