The US dollar continued to recover from its fall from grace over recent weeks, but NAB’s Rodrigo Catril suggests this is more to do with concerns in Europe than any positive news from the US – and, perhaps, a lack of inflammatory Tweets from the President. The attention now seems to have shifted from the politics of France to the fiscal concerns over Italy and Greece. Can the ECB really taper their bond buying when both these countries need to sell bonds to cover their debts? We also look at yesterday’s RBA decision and ahead to tomorrow’s rate announcement from the RBNZ.