PowerShares Bullish Dollar Fund (UUP) is up 20 cents to $22.97 after the dollar scored big gains against some of the other majors. The euro sank to 1.433 and its lowest levels since September 7, the day after the Federal Reserve concluded its latest meeting on monetary policy and noted some improvement in the economy — possibly paving the way for an eventual policy shift. The dollar is higher Thursday and some players looking for additional upside in the short-term, with active trading in Jan 22, 23, and 24 calls. Nearly 7,000 traded so far.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.