Derek Taylor recommends $1.3150 target rate on US Dollar “Forward Orders”

Derek Taylor, our very own foreign exchange expert, is recommending that Travel Money Club members buying Euros this week should target their “Forward Orders” at $1.3150 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!

Derek told us:

 

“#It’s all about the Dollar – again!

“A week ago, US Retail Sales and Inflation data disappointed the market and the chance of another US interest rate rise this year receded dramatically. Sterling broke through 1.3000 and traded above 1.3100 before slipping back towards 1.3050 on Monday morning.

“Then on Tuesday the 18th July, UK CPI inflation data came in lower than expected, which, given the hawkish undertones from the Bank of England, effectively put a cap on interest rate rises in the near term. Then on Thursday, the ECB president Mario Draghi hinted at Monetary tightening paving the way for EU interest rate rises. The poor old Pound suffers again and drops to GBP/USD 1.2940. But then more poor economic data from the States on Friday leads to a recovery in Cable to GBP/USD 1.3000.

“It should be noted that the Pound had a poor week, especially against the Euro. But this is Cable (GBP/USD), and amidst the background of a suffering greenback, Sterling is actually holding up well. So we maintain our near term range accordingly to GBP/USD 1.2850 – 1.3150

“Important Economic Data to watch out for this week:

“THE important news this week is on Wednesday the 26th at 6pm. The FOMC rates decision (Federal Open Market Committee).

“It is a big week for company earnings data, so keep an eye on Stock Markets, especially the US.

“Remember, it is breaking news that moves markets!!”

Disclaimer: Opinions expressed are solely those of Derek Taylor and do not necessarily express the views or opinions of the Travel Money Club or any other organisation mentioned herein. These opinions are not intended to be a source of advice and any action taken as a result of this information is entirely at the reader’s own risk.

ABOUT DEREK TAYLOR

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.

Fill 1Fill 10iOpenPath 12locationi copy 2Path 12Path 25Fill 8CloseRectangle Copy 5arrow-rightarrow-leftRectangle Copy 5Path Copy 7Path Copy 7BurgerGroup 3arrow-rightarrow-leftAccount Icon Copy

SERVICE INTERRUPTION

 
Due to the Coronavirus, we are currently unable to supply mail order travel cash.
 
Please accept our apologies for any inconvenience and we hope to be back soon.
 
[find out more]