Dear Reader and Fellow Investors,
For those of you who are a regular reader of these articles, I can understand shock in what may seem an opinion on currencies about to appear: something I have become notorious on not providing.
The only thing I would like to say is a recent comment to a client who was querying converting some EUR into USD, having a 100% EUR portfolio. Is the rate good, was the usual question?
The difference between the EUR and USD, in my humble opinion, is the former is an attempted currency, whilst the latter is a concept. Under extreme conditions, one knows what they are likely to get with a USD, much less so with the EUR. As a hedge against such a scenario, the difference between 1.24 and 1.23 may not be very significant.
Your sincerely,
Alessandro Sajwani
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