Derek Taylor recommends $1.4200 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 $1.4200 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 week running up to the Easter break, saw the US Dollar regain some of it’s recent losses, sending the GBP/USD exchange rate lower. It failed to find new highs above 1.4250, but equally, found good support at 1.4000. Keep an eye on the US Trade Wars, although the US appears to be softening its tone.

This morning, Tuesday the 3rd April saw UK manufacturing data beat expectations, and with no Brexit news to focus on the Pound is expected to range trade. Last week, we anticipated 1.4000-1.4300, and this week we would adjust our range slightly lower, but only to reflect recent price action. So GBP/USD 1.3900-1.4200.

Events for the coming week to watch out for.

Tuesday 3rd April – 9.30am UK Manufacturing PMI. Expected 54.7, actual 55.1

Wednesday 4th April  – 1.15pm US Employment report, 3pm US factory orders and durable goods.

Thursday 5th April – 8.30am UK, Halifax house prices.

Thursday 5th April – 1.30pm. US Jobless claims.

Suggested level to buy holiday US Dollars.

We have adjusted our suggested range slightly lower to GBP/USD 1.3900-1.4200.  We still feel that anything above 1.4000 has proven to be a good opportunity to lock in some holiday dollars. So 1.4100 and 1.4200 give real spending power. 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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