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AUSSIE: The AUD sold off modestly following the release of its monetary policy
minutes from the May 1 meeting but subsequently recovered.
- The statement was relatively balances with policymakers' noting that the next
move in the policy rate is likely to be up rather than down, but highlighting
that slack in the labour market should remain for some time.
- The AUD continues to trade in a tight range with yesterday`s lows at 0.7522
holding firm. A rally above yesterday's high of 0.7566 would put the focus on
the 50DMA, currently at 0.7671.