FTSE Group and Record Currency Management have launched the first set of indices within the new FTSE Currency Forward Rate Bias Index Series.
The new FRB5 indices use the five most widely-traded currencies (US Dollar, Euro, Japanese Yen, Pound Sterling and Swiss Franc) in a forward rate bias (also referred to as carry) strategy.
http://www.hedgeweek.com/2009/09/21/ftse-launches-first-range-currency-frb-indices
Trading Forex in Baskets to diversify trading risk for both, speculative trading or hedging Forex risk by 
