USD Trading Outlook (16-05-2014)
The Australian Dollar (AUD): The pair was pushed lower in Europe session as it failed to penetrate weekly cloud and sat around 0.9365 as NY got going. The better than f/c U.S CPI initially hit the AUD to 0.9340 before pausing. The USD gains were erased and US yields gave back post gains but AUD did not benefit much from it. AUD tested local bids in the 0.9325/30 area as it hit a low of 0.9327. No further losses were seen though as the USD remained heavy and JPY bulls ran out of gas.
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