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USD Trading Outlook (17-03-2014)

The Australian Dollar (AUD): The pair opened slightly lower but drifted lower on Crimea tension to a low of 0.8993. Support was found and bounced the AUD to above 0.9020. AUD market will be focusing on the RBA Minutes that will be released out on Tuesday. It will be looking for any comments on the level of currency and further colour on the economy. The PBOC has decided to widen the trading band of the CNY to 2%, any weakness of CNY will damage the AUD.

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