Australian dollar expected to lose ground in global currency wars Read more: http://www.afr.com/personal-finance/specia

The angst generated in international circles by global currency wars was on full display this week, after it was revealed US Treasury officials had "expressed concern" the Reserve Bank of Australia had tried to talk down the local currency.

Glenn Stevens, the governor of the Reserve Bank of Australia shrugged off the US criticism, saying that commenting on whether or not the currency was properly priced was "absolutely" consistent with Australia's long-standing support for free and open currency markets.