The Australian dollar dropped to its lowest value in five-plus years against the New Zealand dollar on Tuesday after the central bank of Australia said continued easing remains an option, according to Bloomberg.
Governor Glenn Stevens with the Reserve Bank of Australia is set to testify before the House of Representatives Economic Committee on Wednesday.
The RBA released minutes from its final policy meeting of 2013 on Tuesday, which had policy makers stating the Aussie's value was too high, The Sydney Morning Herald reports.
"If anything I'd take out of the minutes, there were some notes of positive change, in particular talking about the potential for investment in the health sector, also improvement in tourism exports," FX strategist Greg Gibbs with RBS told The Sydney Morning Herald on Tuesday. "While the RBA is on the one hand jawboning the currency lower, it's almost like a bit of misdirection – they're waving the hand on one side and on the other they're noting a few things that are looking a little better."
The Aussie fell about 0.3 percent against the kiwi during the Tuesday trade session.
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