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 $1.4300 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:
GBP/USD 26.03.18 Sterling Powers Ahead
The Pound is now touching the highest levels seen since Brexit against the US Dollar. A combination of factors prevail.
Our range from last week was GBP/USD 1.3800 – 1.4100, and we have broken out on the topside. We are pleased to note that a Pound now buys in excess of 1.4000 US Dollars, and if you did wait then you will have been rewarded with 1.4100 plus.
Events for the coming week to watch out for.
Tuesday 27th March – 3.00pm US Consumer confidence.
Wednesday 28th March – 7.00 am Nationwide House Prices
Thursday 29th March – 9.30am UK GDP
Thursday 22nd March – 1.30pm US Jobless claims.
Suggested level to buy holiday US Dollars.
We have moved our suggested range up to GBP/USD 1.4000-1.4300. 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 and 1.4300 looks possible. Try our rate tracker and forward order facilities to be sure of not missing out.
Remember, breaking news moves markets!
ABOUT DEREK TAYLOR
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.
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 $1.3300 for a great deal.
Derek Taylor, our very own foreign exchange expert, is recommending that Travel Money Club members buying Euros this week should target their “Forward Orders” at €1.1350 for a great deal.