Economics
Aussie Falls Before RBA’s Stevens Speaks, Fed Meets This Week
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Australia’s dollar fell ahead of Dec. 18 testimony from its central bank chief and a decision by the U.S. Federal Reserve on trimming stimulus.
The Aussie dropped last week after Reserve Bank of Australia Governor Glenn Stevens marked out 85 U.S. cents as a level he’d prefer for the currency. Minutes of the RBA’s last policy meeting are due tomorrow and Stevens testifies at a parliamentary economics committee the following day. New Zealand’s currency gained versus Australia’s as a gauge of consumer confidence in the smaller nation rose to the highest level since 2009.