Dollar Getting Stronger!

[rich_cathybrock]

I've been anxiously watching the USD fade against the Euro for the past few years. It hasn't stopped us from a 14 day cruise to the Med each year, but it certainly has forced us to pass on a lot of things I still wish I had picked up over the years.

 

It was encouraging to see the dollar making a comeback today. Hopefully the trend will continue to move in our favor this time - we leave in two months, and I still miss the 1.20 conversions of '06 compared to where it is today.

 

Anyone have any insight into this "new" trend?

[iancal]

I booked a car for a week in Sept. with Autoeurope on this past weekend. . The agent told me that there have been many changes and cancellations to European reservations because of air schedules and that this part of their business is down 30-35 percent over last year.

[sakana]

I look at DailyFXonce or twice a week. When I woke up yesterday, saw the dollar gaining, I went out and looked. Apparently yesterday's gain was actually the Euros loss of value. The president of the European Central Bank announced that the European economy didn't loook so hot for the near future and the Euro started to slide right after he finished his report...

 

Today I noticed the dollar situation was still improving and today's headline was: "Is This The Dollar Breakout? August 8th, 2008 will be known for two events: the start of the 2008 Beijing Olympics and the massive, bullish breakout for the US dollar."

 

I'm keeping my fingers crossed that the dollar continues to see gains for at least the next two months :)

 

If you'd like to try and follow this development DailyFX is at http://www.dailyfx.com

[PKB]

I was encouraged by the exchanged rate today and had been considering buying euros now for our Med cruise next April, presuming that the rate would be worse when we sail. Now I am hoping it will drop some more and I can get an even better rate.

[vivian02]

We leave for Rome next week and I was suprised to see the dollar higher than it has been all summer today. If things go right maybe another European vacation is in our future for next year. Tim

[Keith1010]

While there has been some improvement with the dollar, the reality is that it will likely stay at a relatively low rate until certain issues, such as the enormous deficit are addressed.

 

With that said Cruising in Europe still offers a very good value relative to doing a land vacation.

 

Keith

[sea-explorer]

I think sakana is right, it's not the dollar rising, it's the Euro falling.

 

I bought a good deal of currency on Monday, both US $ and Euros. :(

 

If I had left it until today..or maybe even better...next week, I would have had more of both Euros and US $ for my UK £.

 

Heyho!

[debsjc]

I hope it is the Euro falling. I need to buy some soon and the pound is terrible against the Euro at the moment :mad:

[rich_cathybrock]

I was gonig to buy some Euros this week in advance of our trip in October, but the trend right now seems to be strong for the dollar, so I will wait to see what happens in the next few weeks.

 

It would be nice bonus for some of our hard-earned money to go a bit farther while we are there...

[moniquet]

According to many European newspapers the Euro will fall even further as Europe slides into recession. They predict the recession to be deeper and longer then the one in the USA. It is the old saying "When the USA sneezes, Europe catches a cold"

[Been There, Planning That]

Our dollar is falling against the American but because of the recent decline in the Euro, we have a bit better exchange. At our local bank a Euro still costs $1.59 CAD.

 

I had to go into our safety deposit box looking for something, and had a 'eureka' moment and found almost 700Euros from a trip in 2002. I don't think the exchange was any better than but this was quite a joyous find. Our most recent trips were to Asia, South America and the South Pacific where US money is accepted widely.

 

The problem with both the Euro and our Loonies ($1.00 coins with loon and Toonies $2.00 coins) is tipping. A $5 Euro note is a bit steep for bellhops and such but I always feel so cheap giving coins.

 

We always travel with a stack of $1.00US bills, which were welcomed throughout Asia and South America. I fear this won't be so in Europe for our January cruise.

 

• Would anyone be bold enough to use $2.00 Euro coins for tipping or are only 5Euro bills expected? We have extended land holidays in Spain both pre and post cruise.

[newbie2468]

Where is a good place to buy Euros (in the US) to "stock up" before the cruise ...I watch it each day and one of these days when it is low, I am going to at least buy 1/2 of what I want to take "just in case."

 

When you buy them, do they order them and do you get the exchange rate the day you contract to buy?

 

 

Thanks.. I have never bought Euros before ..

[Cruiser Forever]

All I know is things have to get better otherwise we are in trouble. And I hope and pray by the time I cruise next year {Sept 09} that the dollar rate will improve big time. Otherwise the spending will have to be limited.:eek:

[tkere]

I was gonig to buy some Euros this week in advance of our trip in October, but the trend right now seems to be strong for the dollar, so I will wait to see what happens in the next few weeks.

 

It would be nice bonus for some of our hard-earned money to go a bit farther while we are there...

 

Rich and Cathy, where do you get your euros? I live in Lynbrook, so I am not far from you. Last time I went to Europe I got them at the Amex in Garden City.

 

Kathy

[seapenarth]

I hope it is the Euro falling. I need to buy some soon and the pound is terrible against the Euro at the moment :mad:

 

The pound is in a worse state at the moment than dollar or euro. Borrowing to pay for public services has us in a terrible state. :(

[moniquet]

Would anyone be bold enough to use $2.00 Euro coins for tipping or are only 5Euro bills expected? We have extended land holidays in Spain both pre and post cruise

 

Hey, never give huge tips in Spain. Watch the Spanish...about 50 cents is their average.

[Keith1010]

Would anyone be bold enough to use $2.00 Euro coins for tipping or are only 5Euro bills expected? We have extended land holidays in Spain both pre and post cruise

 

Hey, never give huge tips in Spain. Watch the Spanish...about 50 cents is their average.

 

Coins are fine to use for tips.

 

Keith

[Been There, Planning That]

From your home base in Spain, Moniquet I can rest assured that you know the tipping routines.

 

Am I correct that a restaurant bill ususally includes a 15% surcharge in Spain and that one is only expected to leave loose coins given in change or charge to the nearest Euro?

 

I guess we'll have to manage with American one dollar bills until we can get some one and two dollar euros for tipping. Our bank only offers bills -- in all currencies.

[gordiej]

People! Leave the currency speculation to the professionals! :)

 

Even if you're right about the direction, it probably won't move enough to make up for the bad exchange rate and/or fees for buying paper currency at a bank in advance vs. just withdrawing from an ATM once you get abroad.

[CintiPam]

Where is a good place to buy Euros (in the US) to "stock up" before the cruise ...I watch it each day and one of these days when it is low, I am going to at least buy 1/2 of what I want to take "just in case."

 

When you buy them, do they order them and do you get the exchange rate the day you contract to buy?

 

 

Thanks.. I have never bought Euros before ..

 

We buy any Euros we want to have before we land in Europe at the small bank branch at our airport. Frankly, we prefer to save on the exchange rate and get Euros from the ATM at the European airport after we land there. I believe that most airports that have international flights originating from those airports have bank branches that stock Euros to service both the Americans taking off from there and the Europeans landing there. We live in Cincinnati and the Cincinnati airport has many currencies available.

 

Hope this helps.

Pam

[rich_cathybrock]

Rich and Cathy, where do you get your euros? I live in Lynbrook, so I am not far from you. Last time I went to Europe I got them at the Amex in Garden City.

 

Kathy

 

Their rate is not the best, but the convenience makes it well worth it to me. Amex in GC, and then Amex in the Mariott Marquis in Times Square, which is a block away from where I work.

 

Small world! Happy sailing!

[martyap]

Rich and Cathy, where do you get your euros? I live in Lynbrook, so I am not far from you. Last time I went to Europe I got them at the Amex in Garden City.

 

Kathy

Amex in Roosevelt Field....also a new Travelex window inside the Mall near the main entrance....also AAA in Garden City which is probably the best rate of the three....Marty

[mom23guys]

Europe seems to be catching our economic "flu" I really hope we all recover quickly since that will best the best for everyone.

[tkere]

Amex in Roosevelt Field....also a new Travelex window inside the Mall near the main entrance....also AAA in Garden City which is probably the best rate of the three....Marty

 

Ahh, another Long Islander! Yes, last time I went to AAA, and they only had a few $100 dollar packs. I was dissappointed and that is how I found out Amex had them.

 

Rich and Cathy: I did find it alot easier to get the euros ahead of time at Amex and not go crazy looking for ATMs, etc. The last time we arrived in Italy it was 12/22 and with the Christmas holiday and the day after I wasn't sure how if the ATMs would be filled, etc. It was so easy that trip having the euros already, I want to do it again.

[rich_cathybrock]

I see a lot of posters who get money in ATMs in Europe - as do we.

 

That said, I always want to have cash on hand when I land, so I take money with me.

 

This year, we land in Barcelona. The boards are loaded with info on the pickpocket problems there, and after an all-night flight, and with all my luggage in tow, I don't want to try to find an ATM when we land.

 

It's funny, I have been on CC for years, and this is the first time we have met so many Long Islanders in one thread. Amazing!