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Euro Hits 14-month Low Vs Dollar Near $1.28

Euro Hits 14-month Low Vs Dollar Near $1.28

Old May 5th, 2010, 12:17 PM
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Euro Hits 14-month Low Vs Dollar Near $1.28

http://www.cbsnews.com/stories/2010/...n6463091.shtml
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Old May 5th, 2010, 12:21 PM
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But I read here on Fodors it was definitely going to hit $1.58, so I bought a whole lot of euros when it was $1.40. What do I do now?
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Old May 5th, 2010, 12:43 PM
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punt!
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Old May 5th, 2010, 12:57 PM
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Well,his will help make up for last year's trip when the Euro was $1.60

Steve
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Old May 5th, 2010, 12:59 PM
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>What do I do now?
You buy more! Diversify, but also buy real things that keep their value over time. Things other people may want to buy from you. Paper is not a good choice, it's just not a good store of value. Or buy shares of companies that produce real things and are competitive at the same time. Or companies that produce food or energy. (But don't speculate with prices of food items, it's evil).

A zillion options, still.
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Old May 5th, 2010, 02:49 PM
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"But I read here on Fodors it was definitely going to hit $1.58, so I bought a whole lot of euros when it was $1.40. What do I do now?"

Panic... LOL!

(I assume you are joking)

However, curreny speculation is not a game for the faint of heart. I just hope it stays down for 20 more days! (Yes, under three weeks! The Volcano is a bigger worry then the currency however )
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Old May 6th, 2010, 06:12 AM
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Personally I'm hoping it dips down a little lower in the next few weeks.
I'm with CarolA. trying to time the market and buy will leave you with a lot of gray hairs. I've got 19 days to go before my trip and plan to pick up a few Euros before I leave the states.
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Old May 6th, 2010, 06:13 AM
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"A zillion options, still." .... said the chief prognosticator.
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Old May 6th, 2010, 06:29 AM
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Does the value of the Euro really affect you all so much - so you worry about your European holidays?
If I want to visit the US I visit, regardless of the rate of exchange. I can't understand why some people seem to worry so much about a couple of cents here or there on a holiday costing thousands.
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Old May 6th, 2010, 06:59 AM
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What do you do? You don't know, I don't know, nobody knows. Maybe in July it will be at par....maybe it will be back to $1.50......when the time comes, you use the ATM with a no fe3e debit card and that's the price for better or for worse. There's nothing you can do about it anyway.
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Old May 6th, 2010, 08:32 AM
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hetismij--there are many people who are on the edge of being able to afford their trip overseas. Yes, "a few cents here or there" can make a huge difference, especially when those "few cents" can amount to a 25% or more increase or decrease in the value of their money!

A trip costing 5,000 euros with an exchange rate of $1.50/1 euro costs $7,500. A trip costing 5,000 euros with an exchange rate of $1.28/1 euro costs $6,400. To many people, $1,100 is important, and can make or break a trip.
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Old May 6th, 2010, 08:48 AM
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Hope it keeps dropping,I am arriving in 10 days
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Old May 6th, 2010, 09:16 AM
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Last time I was over it was about $1.50 and since I'll be there again this August I'd lve to see a better rate, also, but it is all, unfortunately, part of the cost of foreign travel.

As to being "worried," Hetismij..when you were going on about not seeing jet contrails in the blue sky I was about to ask you the same kind of question.
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Old May 6th, 2010, 09:21 AM
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Paul - We save hard for our holidays, we are not wealthy. But if we decide to go somewhere we make sure we have saved enough to cover currency fluctuations too. we don't spend our entire time fretting over whether the Euro is up or down against the dollar or pound.
You pay for a good chunk of a holiday in your home currency anyway - airfare, car hire, often even train fares are paid in advance in dollars.

Our holiday to the US last year cost us just over €5000 for four weeks, at a time when the Euro was low against the dollar ($1.32). But nearly half of that sum was already paid in Euro to the airline and car hire company. We still managed four weeks in the US and did not stay in grungy places.
If we'd gone later in the year it would have been cheaper, maybe, but maybe the airfares would have been higher then, or the car hire. It is swings and roundabouts.

Btw a low Euro may be good for travellers from the US but it is not good for the US as a whole. Maybe you should consider that when getting excited about a few cents fall in the Euro.
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Old May 6th, 2010, 01:11 PM
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J62 and Europeans, take heart! I'm leaving the US in June for a month in Europe, so I know for a fact that the rate will increase to at least $1.50 if not higher. It has always gone up when I begin packing. Several years ago the British pound soared to $2.16 on hearing we were going there.
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Old May 6th, 2010, 01:48 PM
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We just try to stay positive about the exchange rate and just hope it stays the way it is until June at least as that is when we leave. It is a nice feeling going to ATM each day and getting a few euros for our USD!
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Old May 6th, 2010, 02:05 PM
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BTW...it went down a tad more today and is currently at $1.26281....but is this really a low? I mean when the euro first came out, it was pegged to trade at $1.17 and immediately fell through the floor and I think it hit a low at about $0.80 US before it rebounded to the highs of the last few years....also the UK£ is now down to $1.47838...also the Canadian dollar which a week ago was trading at par or slightly above is down to $0.94951...I would like to see the ruro hit par...that would be about right IMHO....but then again what do I know.
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Old May 6th, 2010, 03:02 PM
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We definitely avoided a trip to England when the GBP almost at $2 U.S. We went to Argentina that year instead and the dollar was very strong. Once we commit and book a vacation (especially while we're there), we don't worry about conversion rates at all. It is what it is.
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Old May 6th, 2010, 06:30 PM
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Definitely a time for euro-cost-averaging.
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Old May 7th, 2010, 03:26 PM
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Of the euro hits par again, none of us will be going anywhere as we'll be far more deeply into global economic catastrophe than we have even been the last two years. Be careful what you wish for....
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