Derek Taylor recommends $1.3200 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 $1.3200 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:

Theresa Mays leadership is again coming under pressure which produces a direct negative impact to Sterling. Reports of 40 Conservative MP’s signing a no-confidence vote have created political turmoil throwing the PM’s leadership into doubt.

Watch out this week for news around Theresa May’s premiership pressures!

Events for the coming week to watch out for.

Tuesday 14th November, 9.30am. UK inflation data, both CPI & RPI – indication of further crate hikes to come

Tuesday 14th November, 1.30pm US Producer Prices

Wednesday 15th November. 1.30pm, US Retail Sales

Thursday 16th November. 9.30am UK Unemployment data. 1.30pm US Jobless Claims.

Friday 17th November 1.30pm US Housing Starts.

Suggested level to buy holiday US Dollars.

We are going to have to shift our range down to compensate for the Theresa May news, so GBP/USD 1.2900-1.3200

GBP/USD  at 1.3200 is still a very good level to buy holiday dollars, and realistically above 1.3100 is recommended.

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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