Wells Fargo taps dollar fears with forex-linked certificate of deposit

Wells Fargo has launched the latest in its series of certificates of deposit (CDs) linked to emerging markets currencies following rising demand for the products on the back of uncertainty surrounding the US dollar.

Foreign-exchange-linked CDs that tracked the movements of a basket containing the currencies of Brazil, Russia, India and China were popular in 2007 as a secure way of hedging against the weakening dollar. CDs are also protected up to the value of $250,000 by the Federal Deposit Insu

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