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:

Prime Minister Theresa May managed to overcome a last-minute hurdle over Gibraltar to get a deal agreed on Brexit with her counterparts in Brussels. The Dutch prime minister, Mark Rutte, helped set the tone. “You know I hate [Brexit] but it is a given,” he told reporters. “No one is a victor here today, nobody is winning, we are all losing.”

The next challenge for May is to get the deal through parliament, which is far from certain.

Elsewhere, the situation between Russia and the Ukraine has intensified. The Russians “arrested” three Ukrainian warships. The Ukrainian parliament are voting to introduce martial law.

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:

Monday 26th November 1.30pm US National Activity Index.

Tuesday 27th November 3.00pm US Consumer Confidence.

Wednesday 28th  November 3.00pm US New home sales.

Thursday 29th November 10.00am EU Business confidence. 1.30pm US Jobless claims.

Friday 30th November 10.00am UK Nationwide house prices. 10.00am EU Inflation.

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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