What's been more volatile, the stock market or the White House?
On Tuesday after the close, President Trump's economic advisor Gary Cohn resigned from his position. Cohn was not in favor of Trump's proposed tariffs on steel and aluminum imports.
Cohn's resignation is causing a drop the stock market on Wednesday, while the U.S. dollar is trying to stabilize. If investors believe the greenback will continue to weaken, though, what the best ways to play?
When the dollar falls, it allows other assets to rise. For instance, both silver and gold prices moved higher on Tuesday and should continue to do so if the dollar's fall continues.
Investors who are looking to play that trend have a few options, obviously the first being to buy physical gold and silver. This can be in bars, bullion, coins and countless other forms. Those seeking simplicity can also consider buying the iShares Silver Trust (ETF) (SLV) - Get Report or the SPDR Gold Trust ETF (GLD) - Get Report .
Another asset that benefits from a falling dollar? Oil. While one could buy crude oil futures to play the potential rise, that type of trading isn't for every investor. Instead, they could consider funds like the Energy Select Sector SPDR (ETF) (XLE) - Get Report or individual energy stocks.
Finally, other currencies can feel a bump thanks to the decrease in the dollar. Meaning that, as the dollar falls other currencies like the euro appreciate against it. So investors comfortable with currency trading may pursue this strategy, while others may look to a fund like the Guggenheim CurrencyShares Euro Trust (FXE) - Get Report .
This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.