Market thinking Yellen will do the dovish dance
The US dollar is taking a bit of a smack at the moment. AUD/USD jumped to 0.7675 from 0.7640 after middling reports on GDP and wholesale inventories.
Probably more than the data, the market is anticipating Yellen not offering anything particularly hawkish. Commodities are climbing with oil now up more than 20-cents to erase earlier losses.
USD/JPY has taken a 20 pip dip lower to a session low of 100.20.