Monday, January 2, 2017

My incident investment in USD

About 8 months ago, when USD to Singapore Dollar (my local currency) was about 1.33 to 1.35, I had an inkling of the direction of US dollar.  At that point, the exchange rate fell from 1.43 (in January) to 1.33 (in May).

At that time, I was not thinking about investing in currency at all.

I was thinking about locking in the exchange rate, so that I can travel to US (especially Alaska) for vacation within the next 2 years.

There is no doubt that US dollar is still getting stronger and stronger.  At the time of writing, the exchange rate is about 1.45.

My thought at that time was: No matter the outcome of the election, US economy would only get better.

I just did not foresee that USD strengthened so much after Trump won the election.

I happened to have the good luck to change a few thousand dollars of my saving to US dollar, and keep the money in cash.

As a result of my quick action, I am able to gain 9% profit if I sell the US dollar now.

Since British Pounds and Euro have fallen so much after the Brexit decision, I have decided not to go US after all.

I will hold the US dollar for a couple of months, and gradually convert to other currencies.

Sometimes, it is just dumb luck to make a gain from incidental investment.


No comments:

Post a Comment