The Australian dollar was slightly lower ahead of the release of important domestic employment data.
At 6.30am AEDT the currency was trading at 103.09 US cents, down from 103.14 cents at yesterday’s local close.
The currency traded as low as 102.82 US cents early this morning before pushing back above the 103 cent mark.
Today the Australian Bureau of Statistics will release official employment figures for February.
AAP's survey of 15 economists reveals a median forecast for the unemployment rate to have risen 0.1 percentage points to 5.5 per cent in the month.
Total employment is expected to grow by 8000 in the month, while the participation rate - the percentage of the working-age population either in work or looking for a job - is expected to remain unchanged at 65.0 per cent.
AMP chief economist Dr Shane Oliver said total employment was not expected to have grown quickly enough to offset population growth.
“It's basically just a relatively soft jobs market at the moment,'' he said.
