The Aussie dollar has plummeted more than 6% over the last four weeks and is now hovering just below US88 cents. However, many analysts are predicting it has further to tumble with some even suggesting it will drop as low as US75 cents – a further 14.7% below today's level.
While some investors believe the only way to benefit from the falling Aussie dollar is to stock up on US shares, you can just as equally benefit by acquiring shares in Aussie companies which generate significant portions of their earnings overseas.
One such company is Westfield Corp Ltd (ASX: WFD) which is presenting as a solid buy today. Created as a result of the global Westfield restructure, Westfield Corp now owns and operates all of the group's international shopping centres, with the majority being in the United States.
Given the nature of Westfield Corp's business, the company should directly benefit from an upswing in business and consumer confidence as the economy continues to strengthen. This should see a strong increase in sales and therefore rental income in the coming years.
Shareholders can also enjoy the company's generous dividends. As it stands, Westfield Corp is expected to distribute US26.3 cents per share in FY14 which is the equivalent of roughly 30 cents in our local currency. That equates to a 4.1% dividend yield.