I am planning two 10-day trips with my family in 2023 and 2024, one each to Italy and France. I was reading this morning that the Dollar and Euro are almost equal ($1.00 = €1.0006858). Typically take a few hundred dollars in Euros or Pounds and withdraw money at an ATM when I need it, but usually pay for most of my expenses over there in cash. I was wondering if it might be a good idea to calculate what I will spend on these two trips and buy the Euros now. For a family of three travelers, excluding travel and lodging, I calculate about $1,500 for each trip. Last time I went to Europe the Euro was 1.35 to our dollar, and a few months ago in Scotland it was 1.4 GBP. I figure the Euro will go back up to its previous value and if I buy now will save me about $1,000 over both trips. If it doesn't, I essentially break even. Would appreciate your thoughts.
Jim