Aussie, Kiwi fall then climb slightly after Greece secures debt deal

The value of the Australian dollar dropped against the world's reserve currency on Tuesday, according to Bloomberg.

The Aussie dropped as a consequence of minutes from the Reserve Bank of Australia indicating monetary easing would occur if demand minimizes. Following the declines, the monetary unit and the New Zealand dollar slightly gained as a result of Greece reaching a deal to acquire its second tranche of international bailout aid since June 2010.

"Effectively, the RBA has maintained an easing bias," senior currency strategist Sue Trinh with Royal Bank of Canada in Hong Kong told Bloomberg. "The Aussie is really struggling to strengthen on the back of that."

The central bank of Australia cited the tenuous state of the European economy as caused by the sovereign debt crisis being a sizable factor in discussions when policy makers convened on February 7.

Dow Jones Newswires reports a scrutiny will train on austerity measures that Greece committed to implement in order to secure the bailout funding. But the likelihood of the severity of those cuts being reduced is a possibility as the Aegean nation prepares for April elections.