Yes, meant that to be plural... I just picked up six bottles of fairly top notch Aussie Cab for, well pennies on the Aussie dollar.
As we all watch our 401k's, stock options, and other investments with a lump in our collective throat at least the dollar's improving against most other currencies - and for those that like to drink European, Australian, or Canadian wine, that's a small silver lining.
So, if your wine budget is a little smaller (most of ours is) you may start seeing bargains. The Euro, Aussie dollar, and Canadian dollar have all lost somewhere around 20% - 30% against the US dollar (against highs from the summer). The Canadian and Aussie dollar seem particularly vulnerable so tied as they are to agricultural exports http://online.wsj.com/article/SB122632587332113613.html
The way most of the messed up US distribution system works it'll be tough to quickly find many currency market impacted buys at your local grocery store.
If you buy from retailers leveraging vineyards and distributors in real time (places that either specialize in imports or otherwise have high turns) - you'll start seeing the offers very soon. Distributors are already starting to make plays - so if you have a strong realtionship with a wine shop, let them know you're interested in any "special deals" coming through the channel.
Of course - for those of us in the Northwest, we can leverage the exchange rate by heading north. There's lot's of REALLY good Oakanagan wine that's been staying north of the border. There's some nice skiing that direction btw.
oh... and for those of you looking forward to hitting Whistler - yeah, skiing and partying looks to be cheaper than last season, a LOT cheaper. Just in time... nothing like escaping from the world through 4,000 vertical feet.
Skis, iPod, powder.