The GDP of China will match the US GDP in a matter of years measured by purchasing power parity. Either the Renminbi is way undervalued or the dollar is way overvalued.Unless Red China finally decides to make a meaningful move, the dollar is going down.
I hope you know that this fund does not invest in RMB or RMB contracts. You can see what currencies UDN invests in on the UDN homepage.http://www.powershares.com/products/overview.aspx?ticker=UDNIf you think the dollar is overvalued vs RMB and want to invest accordingly, then UDN is not your vehicle.Personally, I exited my UDN position Friday. I will monitor action in the USD and try to guess whether this is a countertrend rally or a real change in fortune for the dollar.
just saw this. Why is this not moving on the rate cut. Isn't the dollar headed for the crapper?
Everbank.com used to offer FDIC insured CD's denominated in the RMB.