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:

Happy New Year!

The Christmas/New Year period saw thin trading and a broadly lower dollar, falling to it’s lowest for 3 months, especially against a surging Euro. Some analysts think the weakness is due to sell offs after President Trump sign the Tax Bill.

North Korea’s Kim Jong Un’s said that he has a nuclear button on his on his desk ready for use if the country is threatened. However, he also comments that he is open to dialogue with Seoul and may send a delegation to the winter Olympics as part of efforts to lower tensions.

There’s been a lot of ‘news’ in the UK about Brexit and a possible cabinet reshuffle. We can expect more of this as 2018 progresses.

Keep an eye out for Brexit news as usual. But also watch North Korea. 

Events for the coming week to watch out for.

Wednesday 3rd January 3pm US Manufacturing PMI.

Thursday 4th January 7am UK Nationwide House Price Index.  1.30pm US Jobless Claims

Friday 5th. 1.30pm US Non-farm payrolls.

Suggested level to buy holiday US Dollars.

Our “outside” chance of buying holiday dollars at GBPUSD 1.3500 has been achieved. The weaker Dollar mean that we are adjusting our range to 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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