Australian dollar lower on Stevens’ testimony

THE Australian dollar has continued lower after Reserve Bank governor Glenn Stevens said he would not rule out intervention to bring the currency lower.

A 1 Australian Dollar coin and a 1 US Dollar note are seen in Canberra, Tuesday, May 21, 2013. As the US economy rebounds, there are predictions that the Australian dollar could fall as low as 90 US cents in the coming weeks and months. (AAP Image/Lukas Coch) NO ARCHIVING

THE Australian dollar has continued lower after Reserve Bank governor Glenn Stevens said he would not rule out intervention to bring the currency lower.

At 0630 AEST on Thursday, the local currency was trading at 92.89 US cents, down from 92.96 cents on Wednesday.

In his semi-annual testimony to a parliamentary committee on Wednesday, governor Stevens said while he had not yet intervened to bring the currency lower, intervention remained an option.

Originally published as Australian dollar lower on Stevens’ testimony