USD Trading Outlook (22-05-2014)

The Australian Dollar (AUD): The pair was under pressure as US yields put the dollar on solid footings and it traded to a new trend low of 0.9208. Post minutes saw another spike up on USD but gains were quickly erased as US yield pulled back and AUD tested hourly resistance by 0.9240. Little pullback were seen. For today, the major risks event will be inflation expectation and China HSBC PMI due at 01:00GMT & 01:45GMT.

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