Friday, January 16, 2015 8:13:27 AM
FXF (Swiss Franc Currency ETF) popped up tremendously for a one day move yesterday. Not quite enough to trigger a sale, but good enough to lift up my currency portfolio on average.
UUP also continued its rise and triggered its first sale in a very long time.
The LIFO gains on these currency ETFs haven't been as generous or as frequent as stock ETFs. With so much Central Bank manipulation in recent years currency AIMing has been a bit boring. About a year ago I started to see some articles indicating that there might finally be some countries making moves independent of other countries. Japan started that activity a while ago which has been good for its equity markets but tough on the Yen.
Headlines indicate that a couple of Forex brokerages were over-extended on the bearish side of the Swiss Franc and will be closing their doors based upon yesterday's decoupling of the Franc from the Euro. Ouch!
UUP also continued its rise and triggered its first sale in a very long time.
The LIFO gains on these currency ETFs haven't been as generous or as frequent as stock ETFs. With so much Central Bank manipulation in recent years currency AIMing has been a bit boring. About a year ago I started to see some articles indicating that there might finally be some countries making moves independent of other countries. Japan started that activity a while ago which has been good for its equity markets but tough on the Yen.
Headlines indicate that a couple of Forex brokerages were over-extended on the bearish side of the Swiss Franc and will be closing their doors based upon yesterday's decoupling of the Franc from the Euro. Ouch!
Best regards,
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