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This page gives a list of ETF's with exposure to the Euro currency. Some of these exchange-traded funds are leveraged, and others are inverse funds that move in the opposite direction of the currency. In most cases these ETFs are transacted in U.S. dollars so they are easily traded by U.S. investors seeking euro exposure for trading, investment, portfolio hedging or speculative objectives.
Exchange traded funds (ETFs) have really blossomed over the past few decades, providing liquid investment exposure to just about any sector you can imagine, from country-specific investment bets to leveraged investments on currency rates. There are many books you can read to learn more about exchange traded funds, as well as many free resources available via the world wide web.
FXE - Euro ETF
The CurrencyShares Euro Trust by Rydex trades as FXE, and this is the ETF people generally refer to as "the Euro ETF" or "the FXE." As one would expect, this ETF goes up when the euro strengthens versus the dollar. Options are also available on FXE for those traders who want to leverage their bets, or for those investors who might want to earn extra income from writing calls for example.
ULE - Ultra Euro ETF, Levered
ULE is the symbol for the Ultra Euro ETF by ProShares. This euro ETF is leveraged to return twice the price movement in the Euro/USD exchange rate. So the ETF should rise 2% if the currency rises 1%, before fund fees and expenses. Be advised that this leverage moves against the investor if the value of the Euro drops versus the dollar.
EUO - Inverse Euro ETF, Levered
EUO is the UltraShort Euro ProShares ETF. This inverse ETF appreciates in value when the Euro weakens versus the US dollar, and the fund falls in price when the euro strengthens. This leveraged euro ETF is designed to return 200% of the price movement in the underlying Euro/USD exchange rate.
Because of its inverse structure, trading the EUO may be an attractive alternative to shorting the Euro. EUO can be traded in a cash account so a margin account is not required. Also, the potential loss is limited to the amount invested, unlike the unlimited loss potential associated with shorting stock or selling futures.