BUSINESS: Dollar Near 7-Week High Versus Euro

The dollar held its ground against the Euro, showing the strongest level in 7 weeks. Stock markets gained ground ahead of earning reports from tech companies Intel and Samsung Electronics. Oil prices were down about $10 dollars a barrel but edged up after storms hit several parts of the US, causing a greater demand for oil.



It's good to see the dollar is holding ground against the Euro. The euro is about $1.3068 versus the dollar, compared with $1.3051, its lowest level since Nov. 23 at $1.3023. Oil prices need to stay down so lets hope these crazy storms in the US are almost over.


[edit on 9-1-2005 by Banshee]

Just ran across this:
Update 3: Euro Hits 13 Month Low Against Dollar

Question:
Where are all those who jumped on the Euro bandwagon?
Comments? Thoughts?




seekerof

why couldnt the Dollar have been 'this strong' when I visited the US. I could have got a lot more money for my Pound!!!

Originally posted by soapydodger
why couldnt the Dollar have been 'this strong' when I visited the US. I could have got a lot more money for my Pound!!!

If you are implying that the dollar was weaker relative to the pound during your trip, then you did get more dollar for your pound.

I just lost $693 in two weeks thanks to the dollar gaining on the yen. Lucky me.

Originally posted by backtoreality

Originally posted by soapydodger
why couldnt the Dollar have been 'this strong' when I visited the US. I could have got a lot more money for my Pound!!!

If you are implying that the dollar was weaker relative to the pound during your trip, then you did get more dollar for your pound.

I just lost $693 in two weeks thanks to the dollar gaining on the yen. Lucky me.

Thats just horrible. I remember one time I was talkingto an Austrailian tourist in Glasgow city centre and we went into a shop to buy chewing gum. 40 pence it cost and Im thinking,"That about one Australian Dollar" So I paid for it cause I thought they were getting bumped.

It must be horrible going on holiday somewhere and thinking that you are losing money when you transfer currency.

What's worse is working overseas with every intent on bringing your savings back. You are constantly faced with the dilemma of when is the best time to transfer your savings. When I arrived in Japan, the rate was 134:1, went down to 103:1, and is now at 111:1. On a $20,000US savings, the price fluctuations--based on the current rate--look like this: $24,144~$18,558. That's an incredible amount of unavoidable risk.

That sounds all a little too much of a gamble for me. One of my mates is Polish and works here in Scotland. He says its great because when he transfers the money from pounds to whatever they have in Poland he'll be a little richer.

Sort of reminds me of the question, "which country is it best to win Who Wants to be a Millionaire?"