Non-technical question here, hope that's alright.
I'm planning on spending next Fall abroad in Europe and want to capitalize on the low Euro now. Where/what is the best form to purchase Euros? First consideration was to simply exchange at my bank, but they want 1.30 for every dollar, which is more than 7 cents above the Euro's real value.
Since I don't need cash in hand for at least another 3 months, I'm wondering how I could go about purchasing the Euro at a more economical rate. I know next to nothing about currency trading, but very willing to learn.
As a side note, what do people make of the current drop in the Euro? My intuitions tell me it will be higher, though probably not substantially, by the Autumn. One article I read noted that after the last two times the Euro fell this low, it went on a 6 month rebound. But if the Greek situation continues to spiral out of control, it could fall below 1.2, but I'm not willing to bet on it.