Derek Taylor targets the “Forward Order” this week at €1.1550 on the Euro

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 €1.1550 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!

Derek told us:

The Pound suffered a fresh blow over the weekend as Japanese carmaker Nissan has pulled production of its new X-trail from the UK.

Theresa May is getting ready for a fresh assault on Brussels, but most people do not see her making much headway. With the possibility of the March 29th deadline NOT seeing a positive conclusion, then businesses are taking a wait and see approach.

The resulting uncertainty is not good for Sterling, but in the circumstances the Pound is actually doing quite well.

Events for the coming week to watch out for:

Monday 4th February – 10am EU producer prices. 1.30pm US housing data.

Tuesday 5th February – US President Donald Trump’s State of the Union address.

Wednesday 6th February 1.30pm US Retail Sales.

Thursday 7th February – 12.00pm Bank of England rate decision.1.30pm US Jobless claims.

Friday 8th February –  9.30am UK GDP.

Suggested level to buy holiday Euros.

Our anticipated range for GBP/EUR is 1.1350- 1.1550. Anywhere close to 1.1500 looks a very good level to buy Euro’s.

Try our rate tracker and forward order facilities, and let us watch the markets for you.

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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