Comments included in the RBA minutes about the level of the Aussie Dollar were the catalyst for the 1.0% drop in the AUD/USD overnight.
The central bank doubled-down on their concerns that the recent rise in the currency has hindered exports and been felt in domestic consumption data.
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Internal momentum indicators are pointing lower as the price support level at .7825 was broken in late NY trade.
Investors looking to profit from the AUD/USD trading lower can look to buy the BetaShare ETF with the symbol: YANK.
YANK is an inverse ETF, which means the unit price increases as the price of the AUD/USD decreases.
YANK also has a 2.5% weighting, which means a 1% change in the AUD/USD will correspond to a 2.5% move in the unit price.
The current price of YANK is $13.05. We calculate that when the AUD/USD trades back to the January low near .7300, the unit price will trade at $16.75.
BetaShare
