Five ways to trade the divergence between the Chinese yuan and U.S. dollar [CNBC]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: CNBC
The currency hit a three-year high in offshore markets on Thursday while the U.S. dollar index hovered near 12-month lows, accentuating an ongoing divergence. China’s yuan has outperformed against the dollar since mid-2020. Two traders flagged several ways to play the shifting currency market on CNBC’s “Trading Nation” on Thursday. 1. Emerging market bonds The widely anticipated dollar weakness gives investors an opportunity to put money to work abroad, said Tocqueville Asset Management portfolio manager John Petrides. He suggested playing the dollar-yuan divide via the VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC), a basket of emerging market bonds denominated in local currencies. “You’re getting near a 5% yield and you’re investing in emerging market bonds because the world is less fearful about credit risks today than we were a year ago,” he said. “About 10% of this ETF is geared towards China, so, you do participate in this trade... and you pick up some yield i
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