Derek Halpenny
Derek Halpenny
dollar loses rate towards turning
Towards the end of the year, we do see the dollar turning down as it loses its rate support.
appetite consensus creeping dollar employment given gradually higher limited original reading released report selling
Given that the employment report will be released on Friday, the appetite for selling the dollar may be limited especially with the consensus for non-farm payrolls gradually creeping higher from the original reading of 200,000.
continuity dollar interest means number objective rate stress
His number one objective will be to stress continuity. Continuity means more interest rate increases, so that means the dollar can keep going up.
changed dollar obviously overall relatively selling sentiment strength
Overall sentiment hasn't changed significantly, obviously we've had a reversal and the selling has ceased temporarily... But the strength of the dollar has been relatively modest.
against ahead both dollar employment euro key remains report
The dollar remains underpinned against both the euro and the yen ahead of the key employment report from the US.
dollar last mode recovery remains sharp
The dollar remains in recovery mode after last week's sharp sell-off.
against dollar euro fears increase modestly outlook sentiment
The dollar has depreciated sharply against the euro and more modestly against the yen with dollar sentiment deteriorating as fears increase over the outlook for the US economy.
argue bit certainly convinced cut further interest market monetary possibly rate seen since stability
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.
changed knows market repeated shift timing
Fukui has said nothing new, he has pretty much repeated what the market already knows and hasn't changed the timing of a shift on quantitative easing.
bit maybe rates subject tackle
One subject he may tackle is that maybe short-term rates need to be that bit higher.
helping interest march rate rise shift towards week
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.
event foreign guaranteed investors japanese nearly pick purchases yield
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.
ahead confident factor federal following looked market moves next outlook previous seems supportive view
Following previous moves by the Federal Reserve, the market pretty much immediately looked ahead and had a confident view on the interest-rate outlook for the next two meetings. That's been a supportive factor for the dollar. Now it seems to be different.
buying interest obvious rate
There is no more obvious way to play interest rate differentials than buying dollar/yen.