Published by Zeb BhamThe Australian dollar was falling during forex trading this morning (September 21st) despite yesterday's hawkish comments from the Reserve Bank of Australia (RBA).FX Street reports that the Aussie, as the currency is known in forex circles, was brought lower by choppy trading conditions in overnight trading, with an early rebound countered by renewed selling pressure.The currency was lower against both the dollar and the yen but was moderately higher against the euro at 1.3830.The Aussie found support yesterday after the RBA's Glenn Stevens announced that "higher rates at some point will be needed to contain inflation".However, the currency was also under close scrutiny after a report from the Morgan Stanley Strategy Forum named the Aussie as the most overvalued popularly traded currency, suggesting that it is trading at around a 30 per cent premium.The New Zealand dollar was also said to be overvalued by more than a fifth, while the pound was said to be the most undervalued.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.