Dollar vs Euro

I assume you mean Eurail passes, which are almost never a good deal. Anything you buy in dollars, like airfare, does not change based on the exchange rate for the euro. You might want to buy some euros, though, to tuck away for your trip, since it is so far off.

Eurail passes are usually priced in USD or CAD already. But if you were buying nonrefundable advance purchase tickets, it might be. Although the fact that these only get more expensive as time goes by from the first date they are available, no point in playing currency speculator for that. Maybe if you want to prepay hotels, which often offer discounts for doing so, you could try that. But if unless if the dollar/euro is 1.10 or 1.20 is the deciding factor in doing a trip, nothing to get too excited about.
Four months ago it was 1.05 and everybody was talking about parity in the near future. Then, it turned around and went the other way. When you figure it out, let me know and we'll both be millionaires.

Interesting question re air fares denominated in EUR. But keerpo in mind that oil is a USD denominated commodity and fuel costs are thee big airline operation variable. In all likelihood a weak EUR will not impact transatlantic fares.

If you buy point to point train travel it would likely be denominated in local currency. I.e. NSB.no denominstead in NOK, OBB.atdenominates in EUR.

Hi,

Whether you decide to buy a rail pass is up to you depending on your travel style, goals, priorities, itinerary, taking night trains, etc, etc,
I use a rail Pass, the 10 day, 2nd class, but keep in mind even you purchase one now with the Euro at $1.10, that Pass is valid for six months, ie you have to get it validated before that date. The $ price did change this past spring for the Pass I had in mind to buy and ended up buying. Compared to last summer's price in $ it was $150 less this March when I bought it, plus I got that one extra day making it 11 days of travel. The price in May 2015 went back up. That extra day promo and the lower price for the 10 day Pass ended on April 30. The USD quoted price changes depending on strong (first time in 12 years) the dollar is or how weak it is, ie the weaker the dollar, the more the Pass cost in $.

Eurail periodically adjusts the price (in USD) of their passes to reflect the current exchange rate.

As noted, the Eurail pass fees are based in US dollar and are a fixed price with occasional increases. And they are a bad value - you almost for sure will waste more money on one than just buying discounted train tickets in advance from the regional carrier. Airfares are based on a highly complex algorithm using supply & demand, competition and fuel costs as the main basis.

Currency speculation is just that: "speculation." The euro may go up, it may go down. No one can say for sure and you have just as much chance of losing money buying in advance as you do waiting until your trip.

Buying euro in advance is also a waste of money as you pay around 10% to purchase euro in the US. Even a standard bank won't charge you more than 5% to use your ATM card while in Europe and there are many options to get bank accounts that charge you less than that. So to just break even on an advanced purchase, the euro has to drop at least 5% or more and if it goes up you are really screwed.

There is no guarantee which direction the exchange rate will go--up or down. However, this spring I saved some money on hotels I reserved in advance (booking.com) and paid for after I stayed there. The Euro had lost value since the time of my reservation so I saved $$.