Weak US inflation persists. US$ strength depends on whether Congress will pass the tax cuts plan. President Trump is poised to announce a hawkish candidate to replace Janet Yellen as Fed Chair when her term expires in Feb 2018. Aussie dollar is confined to 0.7750-0.7950 range as market awaits Thursday’s jobs report. Mortgage stress levels rise as Australia’s household debt:income ratio approaches 200%.
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