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The Australian dollar was drifting around 87 US cents before the speech of Reserve Bank of Australia Governor Glenn Stevens Tuesday.
On Tuesday, the Aussie traded at 87.19 US cents, down from Monday’s 87.86 US cents. The currency also bought ¥101.66 from ¥101.59, and 69.91 euro cents from 70.03 euro cents.
It took a hit in early overseas trade as the free trade deal with China gave profit takers slip to sell the currency. Then, Aussie leaped slightly following the release of RBA board meeting’s minutes.
"The currency has done very little today. I think we're all waiting for governor Stevens to speak tonight to hopefully understand more about how they're thinking, how they're seeing domestic and global developments," said Jon Linton, Head of Macro Products at Nomura.
