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The dollar

  • 23-03-2009 9:17pm
    #1
    cork1
    Closed Accounts Posts: 443 ✭✭


    a euro is about a one dollar thirty cents at the moment. any point in buying a thousand euros worth and holding them for a year or so?


Comments

  • #2
    Bytheway
    Registered Users, Registered Users 2 Posts: 110 ✭✭Bytheway


    cork1 wrote: »
    a euro is about a one dollar thirty cents at the moment. any point in buying a thousand euros worth and holding them for a year or so?
    None what so ever. The dollar is coming down from a strong position of around $1.27/€1 to presently $1.35/€1.
    The general consensus is that with the big bailouts happening, the strength of the dollar will plummet and when faith returns to the markets, the money will pour out of the T bonds and into stock which will knock the dollar's strength.
    You need to buy the dollar when its weak (ie $1.70/€1 and sell when its strong(ie: $1.19 / €1), its still relatively strong at the moment.
    I think that right anyway....


  • #3
    Onikage
    Registered Users, Registered Users 2 Posts: 1,451 ✭✭✭Onikage


    Bytheway wrote: »
    You need to buy the dollar when its weak (ie $1.70/€1 and sell when its strong(ie: $1.19 / €1), its still relatively strong at the moment.
    I think that right anyway....

    When was the dollar $1.70 to the euro?


  • #4
    Bytheway
    Registered Users, Registered Users 2 Posts: 110 ✭✭Bytheway


    Onikage wrote: »
    When was the dollar $1.70 to the euro?

    The figures I used were for an illustration purpose to show strong vs weak currency.
    But in June 2008 the dollar was 1.58 to the euro.
    The dollar/ euro is a pretty interesting chart over 20year plus scale.


  • #5
    blocparty
    Registered Users, Registered Users 2 Posts: 447 ✭✭blocparty


    short term will prob see the dollar remaining relatively strong, but longer term it will more than likely collapse. look at what china is doing with its reserves, its buying resources around the globe using their dollar reserves so as not to ruin the market for themselves. the dollar will more than likely lose its position as the reserve currency for the world and even people in the states are calling for this to happen so the problems can finally be sorted out


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