The Australian dollar is fractionally lower in a subdued market ahead of a central bank release.
At 0700 AEST on Tuesday, the local unit was trading at 104.44 US cents, down from 104.50 cents on Monday.
Bank of New Zealand currency strategist Mike Jones said there was almost no new information to move markets this week.
"Markets are just in a holding pattern as we wait for some risky events in September," he said.
"Volumes are also quite thin, as much of the Northern Hemisphere heads away on holidays. So, there's not a lot of conviction in markets at the moment."
Mr Jones said the release of minutes from the Reserve Bank of Australia's August 7 meeting - which are due on Tuesday morning - would be of little importance to markets.
"It shouldn't have much additional content over and above the Statement on Monetary Policy that we received recently," he said.
"The market will probably gloss over the minutes in favour of (RBA) governor Glenn Stevens' speech later in the week."
Mr Stevens is due to appear before a House of Representatives Standing Committee on Economics in Canberra on Friday.
The RBA kept the cash rate steady at 3.5 per cent at its August meeting.