The dollar in Australia was up 0.1 percent , pulling away from Monday's five-week low of 81.499 and holding above chart support at 81.524, the 200-day moving average. It has recovered over the past few weeks since Federal Reserve Chairman Ben Bernanke stressed on monetary policy necessity.But the Australian dollar and yields on government bonds declined after Reserve Bank Governor Glenn Stevens said the inflation outlook provides room for lower interest rates if required.The fall is within 1 percent of its lowest level in almost after three years.
The Reserve Bank of Australia (RBA) governor has also made a statement that it would be "desirable" to see a stronger expansion in other sectors of the economy as the mining investment boom ends.
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