There is an ASX listed BetaShares USD ETF which tracks the US Dollar relative to Australian Dollar ( excluding fees/expenses). For PDS of USD ETF, one may visit BetaShares Australian website. There may be other ASX listed ETFs covering US Dollar, which I don’t follow.
The bullish developments in actual currency of US Dollar may be attributed to the weakness in the currencies within it’s make up. These include EURO,BRITISH POUND,JAPANESE YEN and few others but NOT AUSTRALIAN DOLLAR.
Lets look at the ASX listed USD ETF weekly chart in simple terms. It is stuck in a trading range for more than a year after a breakdown with a SIGN of WEAKNESS BAR (SOWB). Yes, we have a bullish short term pivot point reversal confirmation in the current week which may mean testing overhead resistance as shown on the chart.
In short, a strategy in dealing with trading ranges is required to deal with ASX listed USD ETF.
This is my homework at the weekend, before I insert the chart of the ASX listed USD ETF. Which ASX Listed Australian Companies may be the beneficiaries from the rising US Dollar ?
Enjoy your weekend.
USD ETF ASX weekly chart below.
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