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Book Your Flights!

September 26, 2022 | Posted in: Insights

Ellen Griswold: “Clark, you’re driving on the wrong side of the road!”
Clark Griswold: “I realize that honey. I’m also on the wrong side of the car.”
National Lampoon’s European Vacation

You have probably read that the U.S. Dollar has been on a tear rising almost 9% this year versus a broad basket of currencies. Of more interest to U.S. travelers is its increase of almost 15% against the Euro. And, as depicted below, the Dollar’s rise has been particularly impressive versus the British Pound at roughly 20%.

The Euro is below parity with the Dollar for the first time in two decades and the Pound/ Dollar relationship has not been at this level since 1985. While most European countries are also experiencing a painful bout of inflation, the change in the exchange rate more than compensates for higher prices making a European vacation particularly attractive. In addition to financial considerations, this may be a great time to escape from the gloom and doom that is currently so pervasive on Wall Street!