The Euro is Not the "New Hotness", GO UUP (NYSE:UUP),(NYSE:EUO)

Investors are bailing out of Euros, apparently its not going to become the world's new reserve currency. The Euro is down 8.1% since Nov. 25th, its fastest slide in 10 months amid concern that cash-strapped countries like Greece won’t pay their debts.
Bottom line, short the Euro, go long the Dollar -- do so with the ProShares UltraShort Euro ETF (NYSE:EUO) and PowerShares DB US Dollar Index Bullish (NYSE:UUP).

DOWN GOES THE EURO
Feb. 1 (Bloomberg) -- Investors are pulling cash out of Europe at a record pace as central banks slow euro purchases, jeopardizing its status as a substitute to the dollar as the world’s reserve currency.

Your trades Fellow Masters for this play:

Last year, policy makers loaded up on euros, while analysts at Barclays Plc in London and Aletti Gestielle SGR SpA in Milan predicted central bankers would make good on threats to reduce the greenback’s dominance. Now the euro is down 8.1 percent since Nov. 25 in its fastest slide in 10 months amid concern that cash-strapped countries like Greece won’t pay their debts. Billionaire investor George Soros said Jan. 28 that there’s “no attractive alternative” to the dollar.

Traders have spurned European stocks in favor of shares elsewhere for a record 19 straight weeks, “clearly hurting” the currency by draining a net $13 billion from the market, said Geoffrey Yu, a UBS AG analyst. Investors are as bearish on the euro as they were when the 2008 financial crisis was pushing them to the dollar’s perceived safety, futures data show. After buying more euros than ever in 2009’s second quarter, central banks pared back, International Monetary Fund data show.

“The euro can fall further,” said Neil Mackinnon, a former U.K. Treasury official who is a London-based economist at VTB Capital Plc, the investment-banking unit of Russia’s second- biggest lender. “Sovereign-debt risk will continue to be a key theme,” he said. “The stresses created by the fiscal situation in Greece won’t go away quickly.”

SOURCE: http://www.bloomberg.com/apps/news?pid=20601087&sid=ah6SXwC2YQvE&pos=2