Derek Taylor recommends $1.3000 target rate on US Dollar “Forward Orders”

Derek Taylor, our very own foreign exchange expert, is recommending that Travel Money Club members buying US Dollars this week should target their “Forward Orders” at $1.3000 for a great deal.

The “Forward Order” feature is exclusive to Travel Money Club and allows members to automatically buy currency when their target exchange rate is reached. They simply tell the us what currency to buy, what exchange rate to buy at, and the payment card to use. Then if and when the target exchange rate is reached, we automatically execute the order and deliver next business day* (for orders completed by 1pm). As it all happens in the blink of an eye, even if your target rate is only achieved for a couple of minutes, we will still execute your order! Here we explain the latest news about buying US Dollars.

Derek told us:

China and the US are steadily moving towards a broader Trade Deal, which is positive for the USD. But “fed watchers” in the US are picking up signs that the rise in US interest rates is drawing to a close. This is negative for the USD.

In the meantime the Brexit saga continues, with yet more resignations from the Government. Mark Carney in his Brexit speech mentioned that the Bank of England thinks Sterling will fall on a “disruptive Brexit”. Although at the same time hinting of his approval of the Brexit deal already struck between the EU and the UK. And then goes on to warn of Sterling volatility – no wonder!

So, we are going to stick with the same range of GBP/USD 1.2700-1.3000.

Events for the coming week to watch out for:

Please note. As well as the G20 in Argentina, there is a lot of scheduled rhetoric coming from the US this week.

Tuesday 4th December 10.00 am EU Producer prices (came in better than expected).

Wednesday 5th December 10.00am EU Retail Sales. 1.15pm US Employment report.

Thursday 6th December 12.45pm ECB rate announcement, 1.30pm US Jobless claims and factory orders.

Friday 7th December 8.30am UK Halifax house prices. 10.00am EU employment and GDP. 1.30pm US Non=farm Payrolls.

A quiet week for UK data, but watch the Brexit deal situation!!

Suggested level to buy holiday US Dollars.

We are staying with our anticipated range GBP/USD 1.2700-1.3000.  Buying holiday dollars above 1.2900 looks good still looks good. With Sterling volatility, it makes sense to take advantage of rate spikes, so try our rate tracker and forward order facilities to be sure of not missing out.

Remember, breaking news moves markets!


Derek is Director and Co-Founder of the Travel Money Club, as well as CEO of Taylor Associates (International) Ltd, one of the City of London’s foremost financial and market training organisations. Taylor Associates was established in 1993, specializing in derivatives, capital markets, risk and treasury training. He has personally trained in banks, brokers, asset managers, hedge funds and corporations both in the UK and overseas.

Derek’s career started in Midland Bank Group Treasury working across a broad product range including Money Markets, Foreign Exchange, Equity and Fixed income. He rose to the level of senior Director, before moving to Lehman Brothers, and then Bank of America working both in London and NY.

Derek has primarily worked as a trader, both inter-bank and proprietary, but has also spent some years as an inter-bank broker, running desks at two of the world’s leading brokerage houses, Tullett Prebon and Harlow Butler Savage (now part of the ICAP group).

Derek is a frequent speaker on Financial Markets subjects all over the World, and is an Associate of the Chartered Institute of Bankers (ACIB), a member of the Forex Association (ACI), and a member of the Society of Technical Analysts (MSTA).

* Please note that a small number of currencies are not available for next business day delivery. The actual delivery date will be clearly displayed in your order acknowledgement.

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