Hoping someone more knowledgeable about this could give me some advice. Traveling to Japan soon. Need to pay a couple charges (hotel etc) in advance of arrival. Whereas the exchange rate was .0061 last week, today it's .0063. This is a small but noticeable difference in a couple of the larger charges I need to pay. Do you think it might go back down in the next couple days or should I just pay now before it gets worse? (fwiw I read the BOJ made an intervention yesterday)
Thank you in advance! I'm a newbie to this kind of stuff.
by RightOn12345
8 comments
[deleted]
It’s a gamble.
I haven’t found solid confirmation of BOJ intervention, but the July inflation was pretty low and there is speculation of a US rate cut in September.
If there is a rate cut, I think it could go lower but if no rate cut, it could shoot back up to low 160s.
I personally don’t think there will be a rate cut in september, but I could be wrong.
Diversity is strength.
I took economics 101 during my tenure at a state school that no one’s ever heard of.
I speculate that the dollar will lose value once the fed starts lowering rates by the end of the year.
I would exchange $1000usd now if you’re from the US. That’s about 3-4 days of expense for me.
Cancel the trip. If a yen or two per dollar is going to break you, you can’t afford it. The alternative is to just exchange when you need to and live life free and easy. Don’t let small market fluctuations undermine your enjoyment of your trip. They are outside your control.
I’m a very economic expert and I’ve read a numerous number of studies, so thanks to my studies I can minimize the amount of outcomes for the coming days to just two. One is that the JPY will get stronger than the USD, the other is that the USD will instead get stronger than the JPY.
If we could predict currency movements with such accuracy, we would all have a lot of money. Even people who work in currency markets are taking educated guesses.