While there was little change in the foreign exchange market yesterday, investors still sense that the euro will likely keep falling relative to the dollar as the markets await a conclusion to eurozone debt problems, according to an article on the Wall Street Sector Selector.
The article provided a glimpse of yesterday’s forex action through the lens of a number of ETFs:
- PowerShares DB US Dollar Index Bullish Fund ETF (NYSEArca: UUP): +0.04 percent
- CurrencyShares Euro Trust ETF (NYSEArca: FXE): -0.02 percent
- ProShares UltraShort Euro ETF (NYSEArca: EUO): +0.05 percent
- CurrencyShares Australian Dollar Trust ETF (NYSEArca: FXA): +0.34 percent
- CurrencyShares Japanese Yen Trust ETF (NYSEArca: FXY): +0.92 percent
As the current conditions in Spain and Greece remain unstable, investors should expect more turbulence in the global markets during the next few weeks, the article said.
To read the full story, visit WallStreetSectorSelector.com.