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! On Tuesday the 11th July the Bank of England Deputy Governor Ben Broadbent, speaking in Aberdeen, cited the damage that Brexit was inflicting upon the UK economy, especially around Trade. The Pound slipped down against the USD to trade close to the 1.2800 level.
“On Friday the 14th, 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.
“Last week’s near term range of GBP/USD 1.2800-1.3000 was broken on the topside, and we have adjusted our near term range accordingly to GBP/USD 1.2850 – 1.3150. We still recommend buying your holiday dollars now we are comfortably holding above 1.3000, with a possibility of seeing 1.3100 or even 1.3200.
“Important Economic Data to watch out for this week:
Wednesday the 19th at 1.30pm, US Housing starts.
Thursday the 20th at 9.30am, UK Retail Sales, and at 1.30pm, US Jobless Claims.
“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