Euro - Dollar Exchange rate

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thejuggler

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As someone who is travelling to the US in December this year I am watching the euro-dollar exchange rate keenly.
Is the exchange rate likely to change much in the next few months? Am I right in thinking that the Feds move yesterday will weaken the dollar relative to the euro?
Currently a euro will get you approx $1.39 minus commmission. Whats the outlook for the next few months?
 
Predicting exchange rates is like trying to predict the flip of a coin. The only thing I can say is that I think Fed is more likely to be more aggressive than the ECB in cutting rates over the next few months. The ECB is unlikely to cut IMO so maybe if I was gambling man I would say the dollar will continue to fall.
 
There are people living on their own islands in the med who make a living betting on the answers to that question.

I'm travelling myself in November and plan to buy half $ spending money now and half just before I go.

See xe.com for a currency chart under tools and pick a time scale and period of a year and you will see the rate on the up. If the $ was at 1.50 in December you would gain about $200 dollars on €2000. I personally would rather have the $2800 than risk getting less than that now, of course that's why I pay my taxes here.

It's not good for the euro to go too high so I imagine money bags euro bank will endeavour to haul it back.
 
The dollar will weaken as a result of discontent and malaise in the market -even though this malaise & uncertainty bolsters defensive plays such as Gold - predominantly priced in $ rather than stg. A paradox if ever, but it will weaken further so hold out.
 
Not sure if this is appropriate to this thread, but I think it is.

I went to a Bank of Ireland branch to today to buy US traveller cheques. I know I can front load my visa card and use to withdraw cash, but I wanted to take advantage of the current rate. Two problems occurred:

Traveller cheques were only available after 11:30, due to security. This made no sense to me.

The rate to buy the traveller cheques was 1.36. Why was it not 1.4. There would also be a commission charged, but they could not tell me what it would be as it is “calculated at the time of transaction”.

Is this normal.
 
Yes. Well the exchange rates are. You'll never get the wholesale rate, even if you're exchanging tens of thousands of euro. Not sure about the "security" problem though.
 
I changed currency today at a whisker under $1.40. I wasn't aware anyone used travellers cheques anymore.
 
Traveller cheques were only available after 11:30, due to security.

Re above - I went to B of Ireland (Dundrum) last month looking for Canadian dollars and was told they don't have them any day until after 12 - what's all that about? Have planned a trip to the US end Oct so changing half now and half nearer the time
 
traveller cheques will always have a worse exchange rate then cash out
 
Why not open a dollar account with an Irish bank like Anglo Irish? You can change your money into dollars with a reasonable spread and no commission and you will earn interest on your dollars until you need to withdraw/transfer them.
 
I am also hoping to go to the U.S in Dec and was also thinking of buying some dollars in advance. Can anyone suggest where to buy them from to ensure the best exchange rate is being obtained?
 
I just bought some USD @ 1.38 in AIB whereas BOI were offering 1.37. No sign of the 1.40 that was on the financial news this morning, but as someone above said, that's probably wholesale or whatever...
 
scatriona said:
I just bought some USD @ 1.38 in AIB whereas BOI were offering 1.37. No sign of the 1.40 that was on the financial news this morning, but as someone above said, that's probably wholesale or whatever...
Click to expand...
The fact that it's been over 1.41 all week is even more of a pain I guess.
 
I bought some dollars today in BOI at 1.3921 with 6.35 commission charged on the transactionj.
 
I travelled to the states at the end of Aug, while there the rate was 1.36. Credit card transactions were charged at 1.31 (the CC companies take). I am almost certain that LASER is accepted although I didn't use it! Would imagine the exchange rate there might be a little better.
 
Transit tickets, payphones, coffees, a few scoops, tips, etc., you need cash for all these items.
 
Ohh OK :) !! Lets be realistic, everything up to but excluding your evening dinner will be in cash, after that, shopping, hotel etc - its got to be credit card! unless you are bringing a briefcase handcuffed to your wrist!
 
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