###Pov. Could the FOMC this week send the....>

AUSSIE: ###Pov. Could the FOMC this week send the aussie further down the lift

shaft?  The odds of a more hawkish sounding Fed seem tilted to the upside, as

MNI's Jean Yung wrote last week, it would take just three Fed officials to move

their projection for rates by the end of next year above 2.25% to shift the

median to four hikes rather than three in 2018. Strong economic growth, a labour

market that continues to tighten and the increased likelihood the Republican tax

plan becomes law may sway the more neutral of the FOMC participants. Should this

unfold, the shift to four hikes would  provide the catalyst for a break of the

weekly bull channel base off 2016 lows coming in around $0.7474 today, with US

dollar bulls targeting a move towards $0.7350, where the daily bear channel base

is situated.