I do a lot of spending in Europe, and I am trying to find a way to deal with currency fluctuation since my earnings come from the US. I have a borderless Euro account on Wise and try to hold some spending money there when the exchange is good. The $1.05 range per 1 euro is a miracle, so I put a bunch of money away last year to pay for expenses and for the financial support of my family there. The euro is getting stronger, and I am worried we might get into the $1.15 territory soon. Obviously, nobody can predict the future, but wondering if I could buy a currency ETF in Vanguard (betting against the Euro) that equals the amount I may put in Wise in Euros to offset the loss.
Ideas and critique on this very half-baked idea?