Derek Taylor recommends $1.4150 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 $1.4150 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:

Stock markets around the world have rebounded somewhat after the recent falls. This has meant that the recent “flight to safety” which has supported the US Dollar has also reversed, with the Dollar easing across the board. US markets take a breather for George Washington’s birthday, which should mean a slowdown in activity and a quiet trading day.

Mark Carney, the Bank of England Governor will be speaking later and is expected to re-iterate the more hawkish tone that we have heard from the Bank recently. The prospect of higher UK interest rates has supported Sterling lately.

Events for the coming week to watch out for.

Monday 19th February. US holiday. Mark Carney to speak.

Wednesday 21st February 9.30am -UK Unemployment data and Public Sector Borrowing.

Thursday 22nd February 9.30am UK GDP data. 1.30pm US Jobless claims.

Suggested level to buy holiday US Dollars.

Dollar weakness and the prospect of higher UK interest rates have supported the Pound. Buying Dollars above GBP/USD 1.4000 seems favourite and we have moved our suggested range up to GBP/USD 1.3850-1.4150. Try our rate tracker and forward order facilities to be sure of not missing out.

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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