The USD id dribbling lower. Apaprt from what has ben posted there are no obvious fresh catalysts. Markets are super-pumped to see a lower US CPI later today and a potential nearer-term USFed rate cut. Whether the CPI behaves or not, time will tell.
The Australian dollar has been a key beneficiary. The RBA look to be on hold for longer, and even maybe, just maybe, will hike again. Yesterday we had signals from the Reserve Bank of New Zealand that rate cuts are coming.
AUD/JPY has been a beast, of course.
This article was written by Eamonn Sheridan at www.forexlive.com.
