Derek Taylor recommends $1.3400 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 $1.3400 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:

Monday 9th of July. First David Davis, the UK Brexit Secretary and then Boris Johnson, the Foreign Secretary, resigned, with an immediate negative impact on the Pound.

The Donald has continued his European whistle stop tour, making friends wherever he goes. It is the turn of President Putin in Helsinki, and he has already declared that the EU is “the foe”.

We have seen our anticipated range GBP/USD 1.3100-1.3400 holding,  and see no reason to adjust it.

Events for the coming week to watch out for:

Monday 16th July 1.30pm US Retail Sales.

Tuesday 17th July 9.30am – UK Unemployment.

Wednesday 18th July – 9.30am UK Inflation. 10.00am EU Inflation. 1.30pm US Housing starts.

Thursday 19th July – 9.30am UK Retail Sales. 1.30pm US Jobless claims.

Friday 13th July – enough said!

Suggested level to buy holiday US Dollars.

We are sticking with our range, GBP/USD 1.3100 – 1.3400, and once again recommending buying holiday dollars above 1.3300.

To take advantage of rate spikes, please try our rate tracker and forward order facilities to be sure of not missing out.

Remember, breaking news moves markets!

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.

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