Another Currency ETF For The Weak Dollar Trade (FXS)
Don't forget that the Swedish krona is a component in the U.S. Dollar Index. Of course, the dollar has been weak lately and that could mean it's worth taking a look at the Swedish krona.
More specifically, an ETF that tracks that currency and that would be the CurrencyShares Swedish Krona Trust (NYSE: FXS). The knock on FXS is it is thinly traded, trading less than 7,000 shares a day.
The bright side is Sweden recently said it expects GDP growth of 1.7% for 2010, about twice its original projection. Sweden's Riksbank, the Swedish Fed, may also boost its key repo rate to 1.1% in 12 months and at 2.7% in two years, just above expectations a month ago for 1% and 2.4%, respectively.
FXS is up about 4% in the past three months and as a conservative way to play dollar weakness, FXS may be worth evaluating here.
