USD Account ($2)

[donaldduke]

....no no no no

If you want to bet on USD you don't just put it in dollars and stick it under a Texan mattress, you put in in a USD money markets and bonds that gives you 5-8% interest rate plus the FX rate. Two more possibilities are US Equities, or simply an FX fund. FX rate moves even big ones don't give you much compared to Equities. I mean yes, over 10-20 years it looks good, but year on year its pretty crap.

I dont think OP mentioned which way he was going to be betting on the dollar.
If he is betting with the Trend (ie dollar will get weaker), then holding dollar
assets like you mention will lose money.

If he is betting against the trend, then he better have big balls, only a fool would go against a multi decade chart breakout.

[Numptycorner]

Someone on here tried this a couple of years ago, theorising would never hit $1.9 again, erm!

Never heard anything again on that one, so presume he ended up losing money.

[mrdonuts]

high for pound against the dollar is 2.20 if anyones interested

[Joe Black]

In that case can you let us know what are the other ways?
Cater Allen are giving an exchange rate of 1.998415 and an interest rate of 4.13% (>$10K) or 4.59% (>$25K). Doesn't sound too bad to me.

Citibank have been offering 4.5% for a bit now (from $1), which is not too bad. Their Euro account likewise compared to the appalling offers in Belgium.

As Buffoon mentions though there's possibly better ways if you want to simply speculate on FX. Still, such accounts as Citibank/Cater Allen can be useful changing currency in the first place and afterwards for same-currency transfers to a broker/bank or such like if you want other options.