US Dollar 'Expected To Recover' This Year

[Pib]

I see today the TT Rate for the USD jumped upon around 0.25 baht...a nice, healthy one day jump. If a person listens to some of the so called FOREX experts on CNN, BBC, MSNBC, Bloomberg, and other news shows, a person can get dizzy since these experts seem to be all over the map on what will happen next... and unless they specify what period their "long term" guidance is based on, they may be just talking only one or two weeks out. I love it when some expert gives their "long term" outlook on trading a certain currency and when that expert is pressed to specify "just how long is long term," I heard them say all too many times their long term is 2 to 4 weeks...or sometimes even less. Now others will specify their long term as 3-6 months or 6-12 months, but I just love it when some are pressed to fess-up that their long term outlook only covers a few weeks. Flipping coin on the future exchange rate may work just as good as listening to some of the experts. Like Naam said, your guess is a good as mine.

A snapshot of the USD to Baht FOREX exchange rate for 24 Jan 11/Monday from XE.COM. The lower straightline just before Monday is the weekend when basically no trading was occurring.

Edited January 24, 2011 by Pib

[EvilDrSomkid]

Well the reason I am asking is because I need to transfer a large amount of money (for me) to Thailand now. I need to do it this coming week.

The question is, should I do it on Monday or wait till Wednesday/Thursday just to squeeze the last bit out of it?

A few thousand baht is still money...

german finance minister Schaeuble made some remarks yesterday concerning the increase of the "european debt umbrella" which should have been positive for EURUSD on Globex... but was not.

transfer now or a few days later? your guess is as good as mine.

Well, did the transfer Monday morning CET. It came into my Kbank today at 41.66.

This morning the rate was 42.00. That would have made a 4k baht difference.

Oh well, not bad compared to last week when the rate was low 39...