For The Love Of Port

1.236 right now

I paid 1.212 for Euros yesterday in Porto and will be very very happy to be buying Madeira at this time. This is probably the lowest I've ever seen the Euro in the past 5 years WHILE HERE IN PORTUGAL. Timing is good.

The BBC just reported that the Euro has just hit a new low against the USD due to some action in the markets in the far east to switch to the USD for safety. I didn't hear the details but it will no doubt be online somewhere.

Derek T. wrote:The BBC just reported that the Euro has just hit a new low against the USD due to some action in the markets in the far east to switch to the USD for safety. I didn't hear the details but it will no doubt be online somewhere.

I'm still showing 1.2237 to 1, which is about what it was around a week ago. But hopefully it goes down, and stays down, even further in the coming months.

Derek T. wrote:The BBC just reported that the Euro has just hit a new low against the USD due to some action in the markets in the far east to switch to the USD for safety. I didn't hear the details but it will no doubt be online somewhere.

That might be a low for a year, but not a new low. In 2000 the dollar was worth more than a Euro. Here's a 10 year chart. I think one of the other big web sites with financial data will let you track back to the birth of the Euro, but I don't remember which off the top of my head.

When I lived in Italy from 1999 to 03, the rates were reversed; about 1.3 euro to the dollar. Good times buying then.

Yes, the lowest I remember is the dollar was worth .88 euros.

A moment ago, it dipped under 1.20 to 1.988. Wow!!!!!!!!!!!!!

Roy Hersh wrote:Yes, the lowest I remember is the dollar was worth .88 euros.

A moment ago, it dipped under 1.20 to 1.988. Wow!!!!!!!!!!!!!

Uhh, you mean 1.198

I hate typos like that.

The Euro has bounced back and has pierced through the 1.30 mark today.

After bouncing around a bit near $1.26, the Euro has climbed slightly back up to almost $1.29. I'd love to see it drop a dime over the next month!

Glenn E. wrote:After bouncing around a bit near $1.26, the Euro has climbed slightly back up to almost $1.29. I'd love to see it drop a dime over the next month!

Yeah this sucks..it needs to go the other way and quick. I leave in less than 3 weeks.

I'd love to see it drop a dime over the next month!

Do you know the last time it has done that?

Roy Hersh wrote:

I'd love to see it drop a dime over the next month!

Do you know the last time it has done that?

It appears to be trying to do the opposite!

$1.34920 as of today...

Yep, the timing really stinks for Port buying whilst in Portugal.

I have been way out of touch, so if anyone can explain what has caused the significant uptick in the Euro's strength, I'd love to understand what caused this change.

No clue... I don't really follow the markets, but I can't recall hearing about anything that might have caused it to go up.

The Dow is up, could that be the cause? You'd think a stronger Dow would increase the strength of the dollar, but who knows?

IMHO, Europe is over the fears they were having over the PIGS, etc., and there was at least in the last month some renewed fears of a double-dip in the U.S. We also have elections coming up and uncertainty about what is going to happen with the tax cuts.

The Euro is really no stronger than it was, actually compared to the Yen its weaker than 120 days ago. You know that stock market rally we have just had here inthe US? a good chunk of it has been due to the American greenback being devalued on the world market.

the US$ is down against almost every other world currency as well as gold.

The strength of our market is not as "recovered" as one may think....the dollar will regain strength probably over the next year, so may not be bad little mini hedge to sell some international investments or gold and hold US dollars for a while and buy back into the investments if / as the dollar strengthens. For the dollar to gain momentum, we need oil prices to come down, this lame duck economy to start functioning and we need to stop printing the money we are flooding into the market...
OF course if there has been no change in Port prices at your local store, its a good time to buy! getting it for relatively cheap with a weak US dollar...

There is seemingly no end in sight and 1.40 is now just a matter of times as it is squarely in the cross hairs. How high can it go?