Risk Currencies Take It On The Chin Over The Last Month
A quick perusal of the performance of some key currency ETFs underscores the more cautionary stance investors have been taking to risk over the last month. The worst performing currencies have been the Canadian Dollar, the Australian Dollar and the Euro. The best performers have been the U.S. Dollar and the Swiss Franc, both of which are considered "safe havens," although the general outlook for the Dollar has been deteriorating significantly in recent years. The Japanese Yen, which is also considered a safe haven currency, is down marginally over the last month versus the greenback. The key idea that investors should take away from the recent activity in the Forex market is that there are good reasons to take a cautious approach to risk markets as we head into the summer. The EUR/USD, in particular, will likely continue to be a good indicator of risk appetite. Here is a closer look at how the ETFs which track the major currencies have fared over the course of the last month.
Dollar ETF (NYSE: UUP) +1.84%
British Pound ETF (NYSE: FXB) -1.70%
Swiss Franc ETF (NYSE: FXF) +1.37%
Japanese Yen ETF (NYSE: FXY) -0.38%
Canadian Dollar ETF (NYSE: FXC) -2.27%
Australian Dollar ETF (NYSE: FXA) -2.70%
Euro ETF (NYSE: FXE) -2.87%
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