Invesco Japanese Yen Trust ETF (FXY US) $US64.17

This US-listed ETF is unhedged, but with an expense ratio of just 0.4%, it’s suitable for longer-term trading/investing for investors/traders bullish on the Japanese Yen. Note that as a US-traded ETF, local investors are, by definition, holding the $US while looking for the Yen to trade higher against the $US – sounds a bit convoluted i.e. a rising $A would detract from local returns.  With Japan (BOJ) slowly increasing rates, albeit from zero,  and the world losing confidence in the Greenback, we are bullish on the Yen and the FXY ETF over the coming year (s).

• We can see the FXY ETF testing the $US70 area in the coming year, which is around 10% higher.