Now at 1.41 vs the buck. Not good traveling news for we Americans. As has been alluded to there is a Euro currency fund, FXE, that allows people to "hedge" against a higher Euro. Maybe someone here can "guard" against next summers possible higher currency conversions costs with this fund.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=FXE&sid=0&o_symb=FXE
Like everything else right now, expect a lot of volatility. The economy in Europe is no better than the US. When the feds drop our interest rates, however, it tends to hurt the dollar against foreign currency. In the Spring Europe was raising interest rates while we were dropping ours. We were trying to prop up the mortgage market by driving demand with little or no results. Europe was focused more on potential inflation that was rearing it's head early this year and drove their economy into a recession.
If it's enough to make a difference on whether you go or not, you could look for a good time to lock in your hotel rooms and transportation. If not, it's probably best to focus on what you can control.
