New ETFs Invest in Foreign Currencies

With the dollar beaten down - 7% against the euro and 6% against the yen so far this year - fund companies are offering investors the opportunity to invest in exchange-traded funds that invest in foreign currencies, The Wall Street Journal reports.

Two companies that recently launched currency income ETFs are WisdomTree Investments and Dreyfus. Morgan Stanley’s version is a Euro exchange-traded note.

But Jeff Tjornehoj, research manager at Lipper, dismissed the new funds as “really entering the realm of speculation.”

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