Derek Taylor recommends $1.3500 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 $1.3500 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:

As we pointed out last week, “with all the negative news for Sterling over the past few weeks – why isn’t it lower?” Don’t forget that when the negative news has already been discounted, then the upside has potential.

Last week saw the US Thanksgiving holiday, which seems to last the whole week now, so the markets coasted. The Euro goes from strength to strength and the Dollar looks nervous, so the Pound pushes tentatively higher. There is not that much in the way of economic data releases this week.

Keep an eye out for Brexit news!

Events for the coming week to watch out for:

Monday 27th, Bank of England Chief Economist Andy Haldane speaking in Birmingham.

Monday 27th November 1.30pm – US Single family home sales.

Tuesday 28th November, 3.00pm. US consumer confidence.

Friday 1st December 3.00pm US Purchasing Managers Index (PMI).

Suggested level to buy holiday US Dollars.

Again, we need to reflect Sterling’s positive performance so GBP/USD 1.3200-1.3500

GBP/USD  1.3300  has been achieved and holds for now. Personally I would buy holiday Dollars above 1.3300 right now, but some may wish to hold out for 1.3400 or even 1.3500.

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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