Allison Pohle

speaker

908 appearances 18 recordings 1 series first heard Apr 2021 last heard Dec 2024

Allison Pohle’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Strong Dollar Means Big Discounts for Americans Traveling Overseas · 12 Oct 2022 podcast

Glad to be here. voice-verified

The dollar is extremely strong and it's being fueled by the Fed's interest rate increases. voice-verified

So that has encouraged global investors to pull their money out of other markets to invest in higher yielding U.S. voice-verified

assets. voice-verified

So data shows that inflation in the U.S. voice-verified

is still stubbornly high, which makes the case even stronger for more Fed rate increases. voice-verified

And that means an even stronger dollar. voice-verified

On top of that, there are also pretty tough economic conditions in other countries. voice-verified

So if you look at the case of the euro, it's been weakened by the war in Ukraine and other problems affecting Europe's energy supplies and economy. voice-verified

If you look at the past six months, the value of the euro and the pound and the Japanese yen has decreased compared to the dollar. voice-verified

So the euro was at parity with the dollar in recent months. voice-verified

And if you look at just this week, the pound was $1.11, which is off about 15% against the dollar compared to six months earlier. voice-verified

Travel advisors tell me that now is the best time we've probably had in 25 years to travel internationally if you look at Europe, Japan, and the UK. voice-verified

But it's also important to remember that prices in those countries have gone up, but prices in the US have gone up too. voice-verified

So it can be advantageous for travelers who are heading abroad to take advantage of those exchange rates that are happening right now as the dollar is strong against devalued yen, euro, and pound. voice-verified

I spoke to one couple who recently went to London. voice-verified

And the woman I spoke with was really surprised when their nightly dinner bill at high-end restaurants was just over $100 for appetizers, two entrees, and two to three drinks. voice-verified

And she said, we spend more than that here and they live in Rochester, New York. voice-verified

So people have been surprised by how far their dollar goes when dining out. voice-verified

There's also data from the Bank of America Institute that voice-verified

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