About FXY
The Invesco CurrencyShares Japanese Yen Trust ETF (FXY) is an exchange-traded fund incorporated in the USA, designed to track the price of the yen against the US dollar. The fund is rebalanced quarterly.
Introduction
Even though there is still a lot of uncertainty coming ahead on the economic and political consequence of Covid-19, we are not convinced that it is the time to fight central banks and get bearish on risky assets. Deutsche Bank recently put together a chart (figure 1) showing the history of the largest inflation-adjusted bailouts and interventions (central banks