CurrencyShares Japanese Yen Trust (FXY) The global recession is resulting in attempts by central banks around the world to fight deflation. The method of choice is to print money. We are doing that here in the United States and as such, the value of the dollar is expected to fall. The same though is happening overseas. No currency is safe. Given that commodities like gold are doing so well, the reverse is true for currencies. For those not adept at trading foreign currencies, another option has emerged. CurrencyShares, a unit of Rydex Investments has created a family of exchange traded funds designed to mirror the fluctuations of underlying currency markets. The Japanese Yen Trust (FXY) tracks the price of the Japanese Yen. I rate this ETF an F or strong sell. Until central banks stop printing money currencies like the Japanese Yen are to be avoided.
$101.02 (03/31/09)
