Dollar accounts. Am I missing something?

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GoldDigga

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Considering the dollar is so weak at the moment (nearly 1.47 against the euro today) why are more people not buying up Dollars and opening up Dollar accounts? I have looked through this website and not found many references to this.

Is this a good idea for decent return down the line when the Dollar does eventually recover and gain in value?

Are there any pitfalls to this type of transaction?
 
Re: Dollar accounts. Am I missing something??

To add to that - I'm betting the dollar will continue weakening. Nothing seems to suggest otherwise, as far as I can see.
 
if you have money to spare and can wait for a return, it would be a matter of when and not if.
 
Pardon the pun..but I would bet my bottom dollar that this fiasco will not subside until well into 2008. There are many indications that the fed will lower rates again soon- and it would appear that, if anything, the ECB may go with another hike.
I am not an expert -but do keep abreast of the news.
 
Just to add to the above - bloomberg news report: analysts say chance of fed dropping rate early dec is now 92% certain.
 
Dollar accounts.

Hi, just joined up, would love to know how/where to open a dollar account. Was planning to buy 10,000 euros worth when it hits 1.50. Appreciate any help re- opening a $ account.
 
Try Anglo Irish Bank. Their current published rate is 4.73% on the 1 month term dollar account
 
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