Keep an eye on the dollar, though: it strengthened yesterday, reports Madlen Read for the Associated Press. Dropping oil prices and the Dow’s close above 13,000 for the first time since Jan. 3 are viewed as signs of optimism.
The options investors have for currency ETFs have exploded. Among the many choices:
- CurrencyShares Australian Dollar Trust (FXA)
- WisdomTree Dreyfus Brazilian Real Fund (BZF)
- ELEMENTS British Pound (EGB)
- CurrencyShares Swedish Krona Trust (FXS)
Depending on your feeling about the dollar – will it continue to strengthen, or is this just a temporary lift? – there’s also the PowerShares DB US Dollar Index Bearish (UDN) and the PowerShares DB US Dollar Index Bullish (UUP).
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.