ETF Talk

Highlighting the PowerShares CurrencyShares Japanese Yen Trust

This week’s fund, the PowerShares CurrencyShares Japanese Yen Trust (FXY), tracks the changes in value of the Japanese yen, which is the national currency of Japan.

FXY is a favorite among investors for both long-and short-term exposure to the yen. Its strategy is simple – it holds Japanese yen, which is the national currency of Japan, in a deposit account with JPMorgan.

Japan’s central bank, the Bank of Japan (BOJ), currently is using a quantitative easing policy to spur economic growth in the country. At its March meeting, BOJ confirmed its stance on keeping interest rates near 0% by removing a target date for achieving its 2% inflation goal.

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