More Negative Dollar Views, UUP Hits 52-week Low

The PowerShares DB US Dollar Index Bullish (NYSE:UUP) hit yet another 52-week low today of $22.34 before recovering to $22.46 and Havard professor Niall Ferguson says the dollar is dying a slow death.

(TechTicker/Yahoo Finance) The weakening dollar is dying a slow death
"It's clear where we're headed," says Niall Ferguson, author of The Ascent of Money. "Ten years from now there will be more than one international reserve currency," he tells Tech Ticker.

Ferguson dismisses the dollar loyalists, citing the British pound – the last international reserve currency - as his example. "These things don't last forever" but don't expect it to happen overnight. "It's a long multi-decade process," he states. Even with the dollar near a 14-month low against the Euro, he claims it's not without historical precedence for the greenback to lose "another 20%" this year.

For international investors the loss is enough to offset this year's stock market gains. Not exactly great motivation for foreigners to keep buying the almighty dollar.

Watch the interview at Yahoo Finance - Click Here>>

As for the UUP, its 52-week range is from $22.34 to $27.19, since March the fund is down more than 15%.