The USD has been drifting lower through the night, the broad-based Bloomberg dollar spot index down by 0.24% over the past 24 hours. This came on the back of a rebound in the German ZEW Survey in November but also better than expected US inflation and housing reports and more dovish (and well-known) talk from the Fed’s Kocherlakota warning not to raise rates in 2015 due to low inflation. The AUD had a mini selling episode as RBA Governor Stevens spoke last night, noting in his address his familiar refrain that further declines in the AUD would be helpful to re-balance the economy. He hammered the point home in the ... (full story)