So im insanely over rolled. The us dollars been goin nuts lately and randomly lose or gain thousands because of it. And now some sort of bill I dont follow is all over cnn. Im still crusin off my last 5 figure cash out so I can wait. What I want to know is the us dollar expected to go up or down? Probably wont know till tomorrow. If anyone can give me advice im pretty dumb and lazy.
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obviously the US dollar is goin down but slightly down due to debt crisis which is almost top of the ceiling limit. But when the congress increase the debt limit which i believe they do, the dollar goin to stablize again.
what is your base currency?
USD will move differently against different currencies
Originally posted by Targetme
So im insanely over rolled. The us dollars been goin nuts lately and randomly lose or gain thousands because of it. And now some sort of bill I dont follow is all over cnn. Im still crusin off my last 5 figure cash out so I can wait. What I want to know is the us dollar expected to go up or down? Probably wont know till tomorrow. If anyone can give me advice im pretty dumb and lazy.
seems like the $ compared to the euro has been on the same level for the last month
Cashed out $160 last week, equivalent of £101 then. I checked how much it would be now worth £97. It is dropping quick atm.
But it is most stable since everyone deals in it pretty much. Im sure it will stabilize.
I was worried about this last week too after all that was on the news about Obama having meetings and debt ceilings.
I withdrew most of my USD money from all my accounts and exchanged it to £s just incase the worst happened.
I tried googling to see what I could find out but the only info directly mentioning the chances of dollars losing value were all old sites and out of date info.
Was I just panicking over nothing or is there any danger of USD significantly losing value?
vs canadian dollar long term is obviously gonna go down alot but in the next few weeks it might spike
frankly the $ cant go down, if it does, its for a good reason, but it cant be down more then a year, if that happends, say, 1eu will be 2$, then we gonna see some sick military action...america wont let his $ go down too, unless they want the war
Hi Targetme,
if anybody could tell you where the USD against any currency will be in a few weeks/months/years he would become very rich, so nobody really knows.
The issue in the US you are talking about is the debt ceiling extension and when the US are not able to extend it, this will most probably have a negative impact on the Dollar. It seems however they have reached a compromise which has to pass congress.
Everybody who is rolled in a currency other that his home currency is in fact speculating on the foreign exchange market (Forex), which for small rolls is not that important, but impact of changing exchange rates will become significant as the roll grows. So when you do not want to speculate you have a few options:
- Have a roll in your own currency with the poker room
- Cash parts of your roll out and keep a comfortable roll for your limits
- Hedge your roll against rate changes in your home currency
Originally posted by METALzx
I keep my roll in
Meh, you need at least 10 truckloads full of those to get a bread. With these you only need a bucket:
Originally posted by JimC6
Was I just panicking over nothing or is there any danger of USD significantly losing value?
Over the short-term you are going to see a lot of fluctuation. Many people will be both losing and making boat-loads of money.
In the long-term there is no alternate currency to use so things will eventually reach some sort of stability. That stability is going to be largely based on how heavily your country is invested in US debt. It also somewhat depends on how willing your government bank is to cover the spread. For example in theory China and Japan should be hard hit, but in reality the governments will buy up parts of the debt themselves to protect their local businesses. (Oops, starting to ramble a bit.)
It's also worth noting that this status quo was created as a result of global economic crisis. If you really want to dig into forex history you should read about the Bretton Woods system and then the events leading up to the Nixon Shock.