Derek Taylor recommends $1.3650 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 $1.3650 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:

It appears that with the lack of news about the Pound, then “no news is good news”.

The first week of the new year has been uneventful, apart from Theresa Mays cabinet reshuffle, which the market has taken in its stride, together with the Halifax announcing that the housing market was slowing down. US jobs growth cooled but did little to cool expectations of further Fed rate hikes in 2018.

Sterling appears to be “range trading”, although remaining tantalisingly close to its post-Brexit highs.

Keep an eye out for Brexit news as usual.

Events for the coming week to watch out for.

Wednesday 10th January 9.30am UK Trade Balance and Manufacturing output.

Thursday 11th January 1.30pm US Jobless claims and Producer prices.

Friday 12th. 1.30pm US Retail Sales.

Suggested level to buy holiday US Dollars.

The same as last week. Our “outside” chance of buying holiday dollars at GBPUSD 1.3500 has comfortably been achieved. The range remains at GBP/USD 1.3350- 1.3650.

Please note that the highest level for GBP/USD post Brexit has been 1.3650!

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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