- The Australian dollar fell to a one-week low against its US counterpart on Tuesday. This followed the Reserve Bank of Australia (RBA) leaving interest rates unchanged and stating that they considered the nation’s currency to be overvalued. RBA Governor Glenn Stevens’s official statement said the Australian dollar “remains above most estimates of its fundamental value”.
- Tuesday saw the Canadian dollar drop off against a number of other major currencies, the US dollar in particular. Ongoing concerns over tensions in Ukraine have continued to weigh heavily on market sentiment, after European leaders threatened to impose a new round of sanctions on Russia. Investors are awaiting a number of US economic reports, due to be realised later this week.
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