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The Australian dollar closed lower on Friday after investors sold off the unit in preparation for the US profit reporting season.
At 1700 AEST, the Australian currency was trading at 77.98 US cents, down from Thursday's close of 78.23, after moving between 78.49 cents and 77.98 cents in the domestic session.
HiFX senior consultant Derek Mumford said some selling pressure emerged as investors prepared for the US profit reporting season that begins next week.
Certainly the unit has been under a little bit of pressure over the last week or so, he said.
There's plenty of event risk next week with the US reporting season when companies report earnings and outlook for the next six months.
With equity markets looking a little bit on the weak side, the pressure will remain on the downside for the Aussie.
The local share market closed in positive territory on Friday but on light trading volumes.
The benchmark SP/ASX200 index was up 30.8 points, or 0.82 per cent, at 3,794.1 points, while the broader All Ordinaries index had gained 29.2 points, or 0.78 per cent, to 3,790.6 points.
Mr Mumford said investor appetite for risk had been on the wane since the start of the week.
The local unit a weekly high of 80.37 US cents during Tuesday's intraday session and weekly low of 77.21 cents on Wednesday.
