ProShares Ultra Yen (NYSE: YCL) was down 0.2% at $36.85 against a 52-week range of $29.76 to $37.40. CurrencyShares Japanese Yen Trust (NYSE: FXY) was down 0.2% at $127.87 against a 52-week range of $114.11 to $129.26. WisdomTree Dreyfus Japanese Yen (NYSE: JYF) is more of a money market rate Yen fund and it was down 1% at $33.34 versus a 52-week range of $30.12 to $34.11.
As far as the Swiss Franc, it hit another new high this morning per the ETF… The CurrencyShares Swiss Franc Trust (NYSE: FXF) was up 0.4% at $126.34 against a 52-week range of $93.57 to $127.99.
Will the European Central Bank be the next to intervene? Can it even afford to worry about exchange rates with all of its woes with the lands of the PIIGS? As far as the Euro ETF, the CurrencyShares Euro Trust (NYSE: FXE) fell 0.7% to $142.00 versus a 52-week range of $125.71 to $148.81.
The PowerShares DB US Dollar Index Bullish (NYSE: UUP), which is meant to effectively rise and fall with the U.S. Dollar Index, was up 0.55% at $21.15 today. We have brought this up before about a speculative ‘flight to safety bubble’ being seen in the Swiss Franc. Perhaps the same is happening in the Yen.
It turns out that a race to zero in the world of currencies doesn’t do anyone any good if the Americans can’t afford to buy manufactured goods from nations.
JON C. OGG
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