Hey, anyone have an opinion on currency trading? I personally think the dollar will not appreciate much more against the euro... however i dont believe it will devalue significantly either. I will be in europe for 8 months and if the exchange goes from $1.28/ euro to $1.35 $1.40 or $1.60 again that is a significant amount of money lost!!
as always the other side would be the dollar appreciates and i lose that money if i short the dollar !! Any opinions will be greatly appreciated... especailly if you work on the chicago mercantile exchange haha
Hello Ryan 😊
I usually let the when to change the money decision depend on the exchange rate I can get before I leave. If it is equal to or above the rate quoted on the internet currency exchanges then there is a chance that I wont get better after I arrive.
If you are waiting to get to Europe to change, then try to find out if what the rate of change and whether you have to pay commission is like at the airport you arrive in, compared with when you get into the city.
I am not sure there is much point in speculating about what the dollar might do in the next few months. Doing so is a case of 'best layed plans....', in my opinion.
thanks Mell ... i understand the general exchanging of currency. I did 7 months in Spain a couple years and i exchanged at the ATM for a $5 dollar charge each time -- the exchange rate went from $1.24 to $1.32 over that time, therefore i could of saved some money by exchanging early.
I have some experience in trading currencies, but i guess i have cold feet to jump into such a large investment. I feel i have more to gain then lose, especially because it is at about $1.27 today and hasnt been much lower in years
either way -- i dont know haha