Re: Opinions on a Safe Haven Currency other than US Dollar
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Personally, if your asking me for a “safe-haven” right now, the USD looks like the best bet in the short-term, from a technical perspective of the currency markets. Eventually, the current rally in the dollar will run its course, and it will be time to move out of the dollar into a commodity-based currency like CAD or AUD.
I agree, however, since the dollar is on a rally right now….my personal opinion is NOW is the time to buy foreign currency, if that is in your plans. You get more foreign dollars for your money when the dollar is index is higher.
If you hold dollars too long, you will lose the buying power of getting the better exchange rate when the dollar starts to fall again.
For example: Use $5,000 US dollars now, while the dollar is “rally-ing” and get $5003 Australian dollars with that.
If you wait until the dollar starts falling again…you won’t get the $5003 AUD back with your $5,000…more likely much less.
Hope I’m not too confusing
Buy when the dollar is in a rally, because it won’t last long.. Just my 2 cents 🙂