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:

Yesterday saw a big sell-off on Wall Street, which has now impacted Asian and European markets. While equities remain the focus, currencies have been sidelined for the moment. Ironically, the US equities sell-off has given some support to the Dollar, which tends to happen when the market looks for safe haven assets like the dollar and gold. But NOT bitcoin, which has plummeted down from nearly $20,000, to $6000. Now officially the biggest bubble ever!!

Events for the coming week to watch out for. 

Wednesday 7th February 8.30am – UK Halifax House Prices

Thursday 8th February 1.30pm US Jobless Claims

Friday 9th February 9.30am UK Trade balance, industrial/manufacturing output

Suggested level to buy holiday US Dollars.

Our expected range was GBP/USD 1.4000- 1.4250, having anticipated a reversal from recent highs for the Pound. After last week’s price action we would now look for a range of GBP/USD 1.3900 – 1.4150.

Clients using our Clever Currency rate tracker and forward order facilities from our app have been able to lock in some great dollar purchases. Otherwise you had to be very quick, or an insomniac, to catch these moves!

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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