Exchange Rate euro dollar future. The exchange rate fell from €=1.60$ to €=1.48$ WILL IT RECOVER?
I have around 3500€ that i made while working in austria and was wondering if i should exchange them now or wait. Thank you
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Tagged with: dollar • Euro • exchange • exchange rate euro • exchange rate euro dollar • rate • RECOVER
Filed under: Currencies
Depends on how long you are willing to wait If you have no need of the money then put it away for the day that it goes back up. Frankly I think that it might go down some more before it goes back up. The American dollar has moved up for the last 10-11 weeks and I think that it is going to go further. I will tell you why but in as few words as possible, oil is traded in American dollars and the oil barons are now more confident in the American dollar. It appears that the dollar gain is directly reflected in the cost of a barrel of oil and now it keeps going down. With the downward trend in the cost of oil, then there is an upward trend in American currency
It may, it may not. The economies in Europe are slowing down, which is causing the euro to lose value against the US$. I believe the trend over the near term is a continued weakening of the euro against the US$, but this could reverse quickly if any additional bad US economic news is released.
Don’t forget that as the US$ strengthens, you will get more US$ per euro (as the euro weakens, it takes more euros to buy a dollar). So from your point of view, the dollar IS currently recovering.