The Australian dollar is unchanged as markets wait to see if euro zone finance ministers approve an aid package for Greece.
At 0700 AEDT on Tuesday, the currency was trading at 104.53 US cents, unchanged from its level on Monday afternoon.
Bank of New Zealand currency strategist Mike Jones said the currency traded between 104.44 and 104.64 US cents overnight as markets waited for the outcome of a euro zone finance ministers meeting in Brussels.
"Financial markets were playing the waiting game and, consistent with that, the Australian dollar has more or less done the sideways shuffle," Mr Jones said.
The finance ministers are considering whether to unlock more than 30 billion euros ($A37.50 billion) in aid promised to Greece as part of a bailout package approved earlier this year.
Mr Jones said the meeting would be the main driver of movement in the Australian dollar during Tuesday's local session.
"Their last meeting went to 5am their time (about 3pm AEDT), so we're settled in for the long hall here," he said.