Aussie slips, but remains near 3-year high

The Australian dollar slipped on Tuesday, but remained near its 3-year high.

The markets are still waiting for the results of the ongoing discussions between the White House and the US Congress over President Joe Biden's $1.9 trillion Covid-19 relief plan.

The Federal Reserve Chairman Jerome Powell stated during his Senate hearing that inflation and employment are still far from the Fed's targets.

Powell had stressed before that the US economy's recovery had moderated and employment slowed during the past few months, but expressed optimism about a return to recovery in tandem with vaccination.

As of 17:43 GMT, AUD/USD fell 0.1% to 0.7902, after hitting a high of 0.7936 and a low of 0.7880.