22.04.2016 - Australian ETF Soars As Commodities Rebound
Investors tuned into the foreign currency market have heard plenty this year about the dollar's weakness, how "Brexit" could punish the British pound and about a solid rebound, sort of, for the euro. Flying somewhat under the radar has been the suddenly hot Australian dollar. Thanks in large part to rebounding commodities prices and much to the charging of the Reserve Bank of Australia (RBA), the CurrencyShares Australian Dollar Trust, which tracks the Aussie against the U.S. dollar, is up nearly 3% over the past month and more than 7% year-to-date. That after FXA posted a double-digit loss last year, making it one of the worst-performing developed markets currency exchange traded funds. ..............................................Full Article: Source
Print