The Australian Dollar fell against the US Dollar during European trading below 0.6260 levels.
The currency pair has traded in a tight band for the last couple of days with two major events working in the opposite directions: Last week's interest rate cut by the FED and an announcement by the Reserve Bank of Australia that it will start interest rate cuts in February. In Australia, no data releases are scheduled today. In the US, CB Consumer Confidence for December (113% exp) will be released (15:00 GMT).