General Discussion

At the moment, UUP is trading at its high for the past twelve months.

That could indeed mean higher rates, as the dollar tends to do better when dollar denominated lending rates rise. Money flows into currencies where the returns are greater on a risk adjusted basis.

It could also mean that global currency traders view the USA to be overall winning the war-- a sort of vote of confidence in the nation issuing the currency. That view is subject to change minute by minute of course.