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!

Derek told us:

The Pound continues to confound Sterling Bears, posting gains over the week against the Dollar. The Greenback has moved broadly lower with concerns over the US tax reform plan taking centre stage.

UK economic data last week showed dropping unemployment offsetting lower Retail Sales. The figures were actually better than the market expected. This, coupled with hopes of a Brexit Deal on the cards, has contributed to a good performance for the Pound.

One is tempted to point out that with all the negative news for Sterling over the past few weeks – why isn’t is lower? Don’t forget that when the negative news has already been discounted, then the upside has potential.

Events for the coming week to watch out for.

First and Foremost it is Thanksgiving week in the US, so the markets go on hold for the holiday.

Tuesday 21st November, 9.30am. UK PSBR figures and 11.00am UK Industrial Trends

Wednesday 22nd November. 1.30pm, US Durable Goods and Jobless Claims

Thursday 23rd November. Thanksgiving USA. 9.30am UK GDP.

Friday 24th November 1.30pm US Jobless Claims.

Suggested level to buy holiday US Dollars.

We need to reflect Sterling’s positive performance so GBP/USD 1.3100-1.3400

GBP/USD  1.3200 now seems comfortable, with a good chance to see 1.3300.

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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