US Treasury yields are down after April CPI was softer than expected, but the Fed may still want to wait. The Aussie and Kiwi dollars jump. Good news for the RBA as Australian wage growth peaks. Japan’s economy may have contracted in Q1.

In our bonus deep dive interview, ANZ Head of FX Research Mahjabeen Zaman discusses ANZ’s call this week that the US dollar won’t weaken as much over the year as previously expected.

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