Pimco launches active currency ETF

Pimco, the $2tn US money manager, launched on Tuesday an actively managed currency strategy exchange traded fund, aimed at helping investors diversify away from the dollar while also preserving their purchasing power. The Pimco foreign currency strategy ETF, known by its ticker FORX, will invest in a portfolio of currencies that are expected to appreciate against the US dollar and local currency bonds. The ETF’s launch coincides with growing concerns about threats of “currency wars” between leading economies.

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