The Australian dollar has been one of the worst-performing currencies this year, and if central bank governor Glenn Stevens has his way, the pain is set to continue well beyond the New Year.
In an interview with The Australian Financial Review last week, Reserve Bank of Australia (RBA) chief Stevens said he would like the local currency closer to 85 U.S. cents, a 3 percent drop from its current level of $0.8870.
"When you listen to the likes of Bernanke and other major monetary officials, when they go out on a limb and make a very committed statement related to a currency, they are really going to do what they can to make that happen. When Glenn Stevens is saying 'I really want the AUD to depreciate,' I think Australian investors should be paying attention to that," The Motley Fool's senior analyst, Joe Magyer told CNBC.
(Read more: No respite in sight for the battered Aussie)