Derek Taylor recommends $1.3600 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 $1.3600 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:

The Pound traded at GBP/USD 1.3550, which is a level not seen since June 2016. Although continued speculation around the Brexit negotiations and expectations on Trump’s tax plans dominate the currency pair.

Keep an eye out for Brexit news. A reasonable settlement would be good for Sterling and also, should Donald Trump’s US Tax reforms fail, that would be bad for the US Dollar and hence good for Sterling as well!

Events for the coming week to watch out for.

Tuesday 5th December  – UK purchasing managers index came in slightly short of expectations, prompting a small sell-off.

Thursday 7th December 1.30pm US Jobless claims

Friday 8th December – 9.30am UK Trade Balance

Friday 8th December – 1.30pm US Jobless Claims.

Suggested level to buy holiday US Dollars.

GBP/USD 1.3300-1.3600

GBP/USD  1.3500  has been achieved we are trading above 1.3400. This is the best rate for holiday dollars for 17 months, so enjoy!

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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