Dollar on back foot after weak ISM; Aussie awaits RBA

The US dollar was below its 2.5-month highs on Tuesday after US services data increased expectations of a rate pause at the Federal Reserve meeting next week, casting uncertainty on policy ahead. Meanwhile, bitcoin declined and neared $25,000 after the Securities and Exchange Commission sued Binance and its CEO over the claim they operated a “web of deception”. Money markets indicate 35% odds on a quarter-point rate increase as the Reserve Bank of Australia reaches its policy decision, while the RBA commentators are split over whether the bank would hike or hold on rates.