Quote:
Originally posted by CDSmith
Let me put it another way.
The US dollar has been weakened only over the past few months, and the Cdn dollar has been getting stronger only over the past ONE month or so.
However...
Anyone that has RRSP's knows that those investments have been losing some money for the past YEAR now, over a whole year of steady decline. But did you automatically rush to your bank or investment guy and pull out all your RSP money? (at a massive penalty I might add). Did you? I sure as hell didn't, and I don't know anyone else that did.
Why?
I'll tell you why.... because banks and investment guys will tell you the same thing... that the markets go up and down over the course of months, from one year to the next, and longer. They will tell you exactly what I'm saying... IF you can afford to keep your money where it is, things will eventually improve.
This war has only really been brewing hotly for a couple of months now. If you really think it's going to last for 5 years the by all means pull all your US money and change it over now. Do it, because we all know the sky is falling and it's the end of the good times as we know it, right? Right?
Listen to me, don't listen to me, or find another option..... whatever. It all boils down to doing what's best for you. So go do it already.
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you obviously don't know why the dollar has dropped. i would be shocked if the exchange rate goes back up to 1.5+. i've seen some saying 1.38 by the end of the year. its based on fundamentals and its not looking good in the states. economy is very sluggish.
will the states raise interest rates if the dollar slips more? i highly doubt it. meanwhile there's more rate hikes expected here.