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USD Trading Outlook (13-05-2014)

The Australian Dollar (AUD): The AUD rallied steadily yesterday towards 0.9375 into NY open and hit a high of 0.9386. However, no further gains were seen as 0.9400 barrier and the upcoming Aus Govt budget announcement to sap the positive energy. The early gains were then erased quickly as US yields were firm along with US equities while USD/JPY pressed towards 102.20. Few Oz data and China industrial output due later in Asia session and U.S retail sales due tonight.

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