The Australian dollar was slightly lower after a mixed day in which it lost ground due to negative sentiment in Asia, closing back below 90 US cents.
At 1700 AEST, the Australian dollar was trading at $US0.8939/44, down from Friday's close of $US0.9025/28.
It was also buying 69.7 euro cents, 57.2 pence and 76.8 yen.
Since 0700 AEST, the local currency traded between $US0.8858 and $US0.8950.
Easy Forex general manager Francisco Solar said the Australian dollar picked up where it left off earlier in the Asian session.
''It didn't help to have a less than expected GDP reading out of Japan, which just added to this negative sentiment that we had to finish off last week,'' Mr Solar said.
Japan's nominal gross domestic product for the second quarter totalled $1.288 trillion. Growth came in at an annualised 0.4 per cent for the quarter, the slowest pace in three quarters.
The Australian share market pared back early losses to finish about 0.4 per cent softer thanks to positive earnings guidance and announcements from industrial and energy stocks.
Mr Solar said the local currency rebounded following an announcement from Japan about its preference for buying euros, rather than US dollars.
As well, equity markets pared back most of the losses from earlier in the domestic session.
''It looks like European markets are somewhat mixed, but just skewed to the positive side.''
Mr Solar said the recent moves had been indicative of a market that was trying to find its feet for the week ahead.
''It looks like equity markets are dictating the moves.''
Mr Solar forecast the local unit would trade between US$0.8850 and US$0.9020 ahead of the release on Tuesday of the minutes of August 3 board meeting of the Reserve Bank of Australia.
At 1600 AEST, the RBA's trade weighted index (TWI) was at 69.2, down from Friday's close of 69.8.
AAP