Deutsche Bank and Invesco PowerShares Capital Management launched two new exchange-traded notes, which are designed to provide triple long and triple short exposure to futures contracts on the US Dollar Index (USDX).
"These ETNs provide investors additional ways to express a view on the U.S. dollar," says Martin Kremenstein, a director at Deutsche Bank.
The PowerShares DB 3x Long U.S. Dollar Index Futures ETNs (UUPT) aims for triple monthly performance of the U.S. Dollar Index plus the return on 3-month Treasury Bills.
The PowerShares DB 3x Short US Dollar Index Futures ETNs (UDNT) shoots for triple inverse monthly performance to the U.S. Dollar Index plus the return on 3-month Treasury Bills.
The U.S. Dollar index is designed to reflect the value of the US dollar compared to a global basket of currencies that includes the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.
