Dollar Rally Gains Steam As Traders Scale Back Fed Rate Cut Bets—These ETFs Are Climbing - Invesco DB USD

The U.S. dollar is headed for its strongest weekly performance in more than two months on Friday as Treasury yields climbed and traders scaled back expectations for Federal Reserve rate cuts.

The U.S. Dollar Index rose to 99.15 at 4:12 a.m. ET, gaining about 1.3% for the week. The move boosted dollar-linked ETFs, including the Invesco DB US Dollar Index Bullish Fund (NYSE:UUP) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSE:USDU).

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Invesco DB US Dollar Index Bullish Fund

UUP is among the biggest beneficiaries of the rising dollar. It offers exposure to the value of the U.S. dollar relative to a basket of the six major world currencies – the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.