Ray Hendon’s Economics Blog

Whether you know it or not, you are probably investing in foreign currencies now. If you own an ETF or mutual fund in any international equity or fixed income product, you are taking a currency risk. It’s not an indirect risk; it’s as direct as it gets. Foreign holdings are priced in their native currencies, [...]

August has been hard on emerging market currencies. Note the table below to see how much the currencies of some of the emerging markets fell last month.*I put the PowerShares DB US Dollar Bullish Fund ETF (UUP) in the chart to show that part of the decline was due to the relative strength of [...]