USD doldrums continue
• Fed speak. Some measured comments by Chair Powell & weaker ISM data reinforced expectations the next move by the Fed could be a rate cut.• USD weaker. The drop in US bond yields has exerted more pressure on the USD. AUD has risen back up to the top of its multi-month range.• Event radar. Locally, the RBA’s last meeting of ’23 & Q3 GDP are due. Offshore, focus will be on US labour stats with non-farm payrolls rounding things out. Downward pressure on US bond yields and the USD returned on Friday with the previous days rebound fleeting. Comments...