USD Trading Outlook (24-06-2013)

The AUD/USD has settled into a fairly tight consolidation range around 0.9200 as the market watches the developing credit crunch in China very carefully. This seems to be more of a managed slow-down by the PBOC rather than a structural problem and we should see some stability return this week.

There is nothing of note on the economic calendar today so we may be in for a fairly quiet session, dependent on flows for any volatility.

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