On Tuesday, on the back of minutes issued from the Reserve Bank of Australia's December meeting, which suggested that there would be a pause in the tightening of policies, the Australian Dollar gained momentum in late trading.

At about 17.00 AEDT, the currency recorded a trading value of $US0.9124/27, which is marginally up from Monday's closing rate of $US0.9107/11.

In a development which led to country's central bank selling the currency immediately, the Swiss Franc weakened by as much as 0.3% against the Euro. The fall has come after the currency hitting its highest level in as many as 5 months.

In addition to Euro, the Franc also recorded falling values against the Dollar, after climbing yesterday for the first time in 19 months. Both major Swiss banks, the Swiss National Bank and the Bank for International Settlements have declined to comment on the sudden currency slip.