These currency tools can help you target a better exchange rate and protect you against a worsening one. Automated currency orders are instructions to buy or sell currency at predetermined target levels to enable you to capture exchange rates round the clock. They can help companies use currency volatility to their advantage, gaining protection against currency losses and maximising on any currency gains. They are “good till cancelled” (GTC), so they sit in the market until triggered, or until you cancel them. Alternatively, they can be set with an expiry date.
Orders can be can used for both spot and forward trades. It also relieves the burden of constantly monitoring the markets – safe in the knowledge that the market is working for you to achieve your target rate.