I am a personality type-A, tracking type of a guy. I have been tracking the US dollar to Euro exchange rate since August of 2008…that’s 460 days so far. I do this partly out of neurosis, but largely out of smarts.
I was able to convert half of my money in March of this year and well compared to current rates (which are higher) I was able to hedge a 16.4% gain. That is to say my US dollars in today’s exchange are worth 16.4% less than they were in March. So, good news for the first half of my money – bad news for the second half.
Everyday at 3:15 p.m. MST the Wall Street Journal sends me an email with the day’s foreign exchange rates. I plop this figure into my trusty excel data analyzer sheet that I have created and weigh my options as to when I will exchange the money. Lately (and by lately I mean the past 4 months) the US dollar has lost considerable value against the Euro. So, now is not the time to exchange. I hope that the amount I have already converted to Euros will be enough to bridge me to a time when the US dollar gains its strength back.
Until then…everyday I sit by my email at 3:15 p.m. MST waiting for my WSJ email to come, hoping that it brings along good news.
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