Learning To Trade Forex - 5 Tips To Get You On The Fast Track Of Online Profits

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Learning to Trade Forex - 5 Tips to Get You on the Fast Track of Online Profits

Learning to Trade Forex - 5 Tips to Get You on the Fast Track of Online Profits

Tour promoters can raise ticket prices to compensate for currency Bitcoin Revolution 2 Review fluctuations but as one promoter said, "That's a very dangerous game to play. We're in an economic downturn and if we push ticket prices too far, we're going to find ourselves losing out." Entertainers Celine Dion and Tom Petty both experienced losses of up to 20% on recent Canadian tours because of unfavorable exchange rates. On June 1, the US dollar and the Canadian dollar were near parity; now, one U.S. dollar buys about $1.22 Canadian dollars.

The example of the entertainment industry illustrates the need for a reliable forex converter for anyone traveling, or doing business in, any foreign country. Exchange rates can change rapidly and those without a forex converter may be in for some very unpleasant surprises.

Earlier in the year the weak US dollar caused many Americans to postpone trips abroad especially to Europe. An impressive rise in the value of the dollar vs. the Euro is making it much more affordable for Americans to travel abroad. Despite the economic crisis and negative economic indicators the US dollar has not only remained stable but has risen dramatically against the Euro and other major currencies. Travelers going abroad would be well advised to use a Forex converter to keep abreast of exchange rates.Earlier in the year many travelers reported outrageous prices in Europe making basic services and amenities like food very expensive due to the unfavorable exchange rate. Those travelers without a Forex converter were left in the dark and experienced some very unpleasant surprises in shops and restaurants.

At present the Euro is trading at about $1.27 against the dollar as opposed to nearly $1.60 last summer. Travelers are paying about 20% less for Euros and this translates to 20% savings on goods and services. Spread out over the entire cost of the trip the savings can mount up quickly and be impressive. For many years the British Pound traded at somewhere in the neighborhood of $2.00 but the Dollar has gained on the pound and is now trading at about $1.60 making a visit to the UK more affordable than it has been in years.

 

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