The euro ticked up in Asian market on Tuesday, strengthening the euro value Eurogroup chairman said that the currency was overrated; whereas the Australian dollar dropped as the central bank kept interest rates steady.

The euro sold at $1.4609 at 0443 GMT having fallen to as low as $1.4555. The currency was come under pressure as result of after Jean-Claude Juncker, chairman of the Eurogroup, made comments over valuation. The reps of German finance ministry said that second relieve program for Greece was not necessary.

The chief currency strategist at Commonwealth Bank, Richard Grace said that comments made by Juncker have affected the euro at the margin. But he was sure that euro will bounce back. Euro has gained more than 4% since from May 23 beating down the dollar. Although hesitation over a fresh rescue package for Greece, it is being supported by persistent U.S. dollar weakness and expectations. The European Central Bank has indicated a July interest rate rise at its policy meeting on Thursday.

Ben Bernanke, Federal Reserve Bank chairman's speech will be closely watched by the investors in a conference where to get the idea of central bank’s view to slowdown the impact.

The world's fifth most traded currency, Australian dollar cut down to $1.0700 after the Reserve Bank of Australia held its interest rates steady at 4.75%, from $1.0745 before the decision. Stock Markets has been expecting it to repeat a warning that rates would likely have to rise in the next few months in order to put a lid on price pressures, but no such indication was given.

Former International Monetary Fund (IMF) chief Dominique Strauss Kahn denied rape charges imposed on him during on his way to court appearance. This was the first court appearance after Strauss Kahn was granted with conditional bail with house arrest on a $6-million cash bail two weeks ago.

Strauss Kahn has appeared with his wife for his first hearing against him for the charges against attempted rape and unlawful acts.  He will face punishment of minimum of 25 years in prison if allegations were proved.

The French diplomat and economist, Strauss Kahn is charged for forcing towards a hotel maid, who was cleaning the night suite where he has been staying in last month in New York. The maid complaint to police that, Strauss Kahn chased her in the hallway of his suite and forced her to kiss.

As per the sources, Prosecutors say they have strong evidence against Strauss-Kahn, including DNA material on the maid's uniform. Strauss Kahn’s legal team will protest that the hotel room act was clear drama. Former IMF boss, attorney Ben Brafman, says that it will be clear that there was no element of forcible compulsion in this case whatsoever where as maid's lawyer Kenneth Thompson, lashes out strongly against any speculation that the woman made up or exaggerated the attack.

The maid who has suffered in the hands of Strauss Kahn wants to expose his power, money and influence throughout the world which can keep the truth laid in the grounds. So she wants to open up and say the facts to the world what ex-IMF chief has did to her in that hotel room from coming out said  Thompson. Thompson was standing for a woman who was fighting for the truth.

Strauss Kahn next appearance in court will be on July 18. However, he is under house arrest includes 24 hours surveillance of cams and armed guards.