At 9.2% year-over-year, U.S. producer price inflation in June spiked to the worst in 27 years. Prospects for American businesses, stocks and fixed-income investments remain suspect.
In this climate, the best-performing currency funds in the second quarter were those betting on currencies that performed relatively well versus the greenback.
The best-performing currency fund from March 31 to June 30 is the CurrencyShares Australian Dollar Trust(FXA Quote). The fund is designed to measure the amount of U.S. dollars needed to buy an Australian dollar. So, as the U.S. dollar declines in value, it takes more and more of our dollars to buy the Aussie variety.
The spot value weakened by 4.75% in the second quarter, sending the fund up by 6.71%. ...
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