27 Quotes by Derek Halpenny

Rising oil and gasoline prices are negative for the dollar.

The data are becoming ever more important. There's no justification in the data to date to warrant the market to push aggressively for 5.25 percent.

There has been a shift this week towards expectations of another U.S. interest rate rise in March -- the interest rate differential is there and it is helping the dollar.

Yield is still very important for Japanese investors and it's nearly a guaranteed event that we'll see a pick up in purchases of foreign assets.

We could argue possibly that we've seen a little bit of stability since we've had the interest rate cut out of the way. Certainly the market is not as convinced over the need for further substantial monetary tightening in the UK.

Towards the end of the year, we do see the dollar turning down as it loses its rate support.

Any shift in policy on Thursday from the BOJ is very likely to be accompanied by a strong commitment to maintaining zero interest rates. There is no trade more obvious than selling the yen against the dollar.

The broader picture for the yen's decline is down to the continued deterioration in Japan's trade surplus.

The yen is being supported by a liquidation of short positions.