AUD/USD: Edges lower towards 0.7800 on China's mixed inflation data, Aussie budget eyed

AUD/USD seesaws around intraday low after China's headlines inflation for April. China CPI recovered but stayed below forecasts, PPI remains strong. Risk appetite worsens amid uncertainty over future monetary policy. Aussie Treasurer Frydenberg will back record budget deficit. AUD/USD wobbles around 0.7830, showing no major reaction to China's inflation figures...