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Does anyone know if there's an ETF or basket of ETF's that track the Chinese Yuan? The only one I can find is the CYB but not exactly sure how this works. Looking to get super-long...
I'm not aware of an ETF but there seems to be one for just about everything, if not multiples for the same thing. I think gold now has 11 different ETFs. I've never played currencies so I don't know much about them. Do people use ETFs or is selling dollars to buy yuan and actually just doing a currency swap what people do?
Not sure how the CYB ETF works. I have a small position in the ETF which really doesn't move intraday. I also bought the UDN today around $28 on the dollar's strength looking to get long... if it gets above $30 and holds we could see a substantial drop in the dollar.
I'm not aware of an ETF but there seems to be one for just about everything, if not multiples for the same thing. I think gold now has 11 different ETFs. I've never played currencies so I don't know much about them. Do people use ETFs or is selling dollars to buy yuan and actually just doing a currency swap what people do?
ReplyDeleteNot sure how the CYB ETF works. I have a small position in the ETF which really doesn't move intraday. I also bought the UDN today around $28 on the dollar's strength looking to get long... if it gets above $30 and holds we could see a substantial drop in the dollar.
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