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The release of the Fed minutes for their 26-27 April meeting has seen a dramatic rally in the US dollar as most policymakers believed a rate rise in June would be “appropriate” if the data holds up. This saw the market pricing for future rate hikes shoot up with the probability for a rate hike in September now sitting at 62.7% and for July at 49.6%. The DXY dollar index rallied 0.7% to close above a key resistance level of $95.1. Commodities and commodity currencies fell sharply, with the Aussie dollar plummeting 1.2%.