This weekâ??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 â?? it holds Japanese yen, which is the national currency of Japan, in a deposit account with JPMorgan.
Japanâ??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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