• AUD/USD continues to languish around recent lows ahead of U.S. CPI

• While Chinese officials have attempted to stem the decline in the yuan

• AUD has struggled benefit from the yuan's recent stability

• Rising 30D correlation with USD, SPX suggests increased influence on AUD

• Thus, the U.S. CPI data is likely to have a bigger impact on direction

• Topside CPI surprise raises the risk of a break below the YTD low (0.6358)

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