That news came a day after Goldman Sachs said it sees the Aussie trading down to 85 cents against the greenback within a year. This is also bad news for the New Zealand dollar, 33% of DBV’s long exposure, because that currency has an intimate correlation with the Aussie.

DBV’s other long exposure, the Norwegian krone, is also worth keeping an eye on for two reasons. First, the krone is sensitive to oil price fluctuations because Norway is a major oil producer. Second, the currency has been uncomfortably strong against the euro, hurting Norwegian exports along the way, and that could force the central bank there to act.

PowerShares DB G10 Currency Harvest Fund

ETF Trends editorial team contributed to this article.