The US dollar was steady against a basket of currencies today after investors drove US stocks to their worst fall in nearly eight months overnight.

It also raised the stakes for U.S. inflation figures due later tonight, as a high outcome would only stoke speculation of more aggressive rate hikes from the Federal Reserve.

Closer to home, monetary policy won’t change the Australian economy’s speed limit, so it might take a while for them to absorb spare capacity in their labour market.

Later tonight, we have Bank of England’s Governor Carney’s speech, followed by US inflation figures and New Zealand’s PMI for September.

FX Rates 11.10.18


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