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Originally Posted by Stranger
Anyone have any thoughts on what the dollar might do in the next few months. I was just wondering if now is the time to buy some American money for a winter vacation this Christmas.
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I'm not a economist, so I don't know the answer to be honest (neither do any economists IMO), but I'll chime in anyway. Whether or not the Canadian dollar is getting better or not, the downside risk of the dollar dropping IMO is too much to pass up. It seems like the summer is when commodities peak and the Canadian dollar goes up with it. I work for a Canadian bank and as employees we get the average price between the buy and sell. Today for every hundred USD I'd pay $107.625 CDN. I'm in the same situation with you as I'm going on vacation for Christmas this year too and I'm just going to tank up real soon. Make sure you find a buddy who works for a Canadian financial institution and you'll get a much better rate. As a matter of fact, I'm really thinking of loading up with about half of my savings into the USD just to wait until the New Year to unload as an investment.