FXA (Australian Dollar)

Curious as to others' thoughts on FXA, an exchange traded fund that reflects the price of Australian Dollar in USD.  I'm looking to diversify a little bit, and this seems pretty tempting.  The Australian Dollar has been hammered the last month, but I read that their government was taking corrective actions, such as insuring deposits. 

 

As is, this is also currently yielding a dividend of 8%.

 

I'm looking for someone who is a little more knowledgable in FX than I am, to let me know their thoughts.  Specifically, let me know if there is something I am missing that is screaming not to buy.

Yeah, that stock has had quite an interesting ride the last few months.  Still frightens me immensely in the short term.  I don't buy that the problems in the world economy have all of a sudden been solved by the manipulation going on.

 

Thought it was hammered too much, and bought a few more shares when it dipped down into the 16's, and sold those today for a nice 45% profit in less than a week.  Unfortunately, still down a bunch from previous purchases that I have held.  Long term I think it is ok, so I am not selling and will take my chances, but I would be very much surprised if you didn't see DRYS fall back into the 15-18 range sometime either this week or next.