I see the euro took a nice jump in the wrong direction today. I wonder if it has anything to do with the French election results. Still better than the exchange rate of five years ago when we were last there. Hopefully it will level out before our trip in June
Posted by
Green Bay
21346 posts
That's what the people who make a living telling us why markets go up and down are saying. Still, it was nearly this high March 28. We'll see.
Posted by
Huntsville, AL, USA
8371 posts
The jump was because of the results in the French election--neither candidate going into the election would be called "moderate" enough. It went from $1.07 to just under $1.09 for a Euro today.
The currency conversion is expected to moderate by June.
Next big test will be the German elections on September 24th. The right wing party was having meetings in Cologne this week and the press thought they did not compromise enough--and are staying very conservative. Some thought they should take a more middle of the road position politically in an effort to pull more support for their cause.
Such things do affect currency, unfortunately.
Posted by
824 posts
Richard,
Given that I have had the fortune/misfortune to travel to Europe when the exchange rate was above 1 to Euro to $1.40, I don't see this latest "spike" as being too earth shattering. I have almost €500 in my safe, purchased at $1.30(ish) per € and I see it as just a convenience fee for my next trip abroad.
Posted by
Pacific NW, USA
334 posts
I have also had the fortune/misfortune to travel during the times that the euro hovered at 1€ = $1.40. I'm still optimistic about the euro for our trip in June. Even at 1€ = $1.20, it would be the best rate I've ever had. I'm hoping for $1.05 though.
Posted by
Toledo, Ohio, US
11613 posts
On one three-month trip many years ago, the Italian Lira went from 1800 per dollar to 900 per dollar. That was painful.
Posted by
OP
Pleasant Hill, CA, USA
473 posts
Or twenty years or so ago when the pound was almost double. That was tough.
Posted by
Washington DC
28462 posts
Oh, Zoe. That would have been a difficult psychological hurdle for me to overcome. I've had some bad exchange rates over the years, but never a significant change mid-trip in either direction.
Posted by
Medford, OR, USA
5837 posts
Although Le Pen made it to the run-offs, Macron is expected to prevail over Le Pen. Le Pen's anti-EU France First sentiment threatened the strength of the EURO. A "Frexit" could impact the Euro much in the same say Brexit impacted the GBP.
Posted by
Winooski, VT
285 posts
Edgar....heard that one before....Now we have Trump.
Hoping for the best for France.
Posted by
Medford, OR, USA
5837 posts
Macron needs to split the center right Republican vote and take the left La France insoumise vote. Hopefully enough of the French Republicans vote moderate to avoid a May surprise. A weak Euro isn't any good if a weakened European economy drags down the world economy. The only winner would be Putin.
Posted by
Toledo, Ohio, US
11613 posts
I was traumatized. For several years I carried way too much cash (€ by then) with me, another type of stress.