Loading ...and that on that particular day it was up against the dollar.
It brought me some memories of a stock I used to watch/own, it’s actually an income fund. The symbol is FAX.
It holds government and corporate bonds in Asia, but mostly Australian assets if I remember correctly. The idea behind it (if I remember right), was that as the AUD strengthened the share price would rise.
Back then, which was 25 years ago, it was trading around $5 and paid a 6% dividend.
I just looked at it. It is currently trading at $15.55 but paying a 7.1% dividend. The divi is good because it is paid monthly. The obvious risk is a currency default. I suspect that if the dollar blows up, it will take all western currencies with it. I might grab some, if the AUD proceeds to strengthen against the dollar, the share price will go up. Seems like a pretty good bet to me at the moment considering where the AUD sits right now.