Looking ahead, most economists anticipate a second cut before the end of the year, with the June quarter inflation figure, which comes out in August, providing further guidance on the RBA’s path. Investors looking to take advantage of Aussie weakness can consider the double-leveraged ProShares UltraShort Australian Dollar (NYSEArca: CROC)

“The RBA may continue to embark on its easing cycle and cut the benchmark interest rate at the next policy meeting on August 2 as Governor Glenn Stevens and Co. warns inflation is ‘still expected to remain quite low for some time given very subdued growth in labour costs and very low cost pressures elsewhere in the world,’” according to DailyFX.

Related: Aussie Dollar ETF Under Pressure

The looser monetary policy could support the economy but weigh on the AUD. Consequently, investors may track the markets through currency-hedged ETFs that try to mitigate the negative effects of a weakening Aussie, including the iShares Currency Hedged MSCI Australia ETF (NYSEArca: HAUD) and Deutsche X-trackers MSCI Australia Hedged Equity ETF (NYSEArca: DBAU).

Click here to read the full story on ETF Trends.

CurrencyShares Australian Dollar Trust