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Purpose High Interest Savings Fund (PSA)
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CI High Interest Savings ETF (CSAV)
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Global X Cash Maximizer Corporate Class ETF (HSAV)
Q: Hi 5i, in mid-December 2024 I trimmed my overweight Mag 7 holdings and put the cash into a US high interest savings account. I am now concerned about a decline in the US$. My question: should I be and if so, can you suggest some alternative holding/investment suggestions? Thanks!
5i Research Answer:
The USD has been weakening recently, and while a strong US dollar can reflect economic strength, a weak US dollar can benefit it for exports and reducing trade deficits. The USD has strengthened a lot in recent years, and we would not be surprised by some relative weakness as policy shifts, tariffs, etc. take hold.
For a Canadian high-interest savings ETF, we like: PSA, HSAV (no distributions, interest is reinvested into the NAV), CSAV.