Quote:
Originally Posted by fleury
Hey Slava (and Claeren), not to hijack the thread, because it's somewhat related, but where do you see the US currency going in the near term and long term. I thought a month ago the CDN dollar would drop but personally now think the CDN dollar will test 1.10 at some point. It's just an uneducated guess based on the recent activity, but with today's drop, I'm thinking of selling 2/3's of my USD which I purchased at 1.07, to sell at about 1.05 (at a loss of about $0.02, to purchase more around Christmas at closer to par). Where do you see it long term and short term?
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I want to say that I have no idea. I don't really consider buying and selling currency equivalent to investing. Its more of a guess as to whether the CAD has reached its pinnacle and will start to lose value. Most "experts" are saying that we'll reach parity which makes some sense. In the long term I would guess that the USD will be back to its former value and the CAD will be closer to $.80 but in the near term its hard to know.
If you want to PM me an email address I will send you an article that I wrote on this (currency and investing), but I would rather not post that.