The Australian dollar is sharply lower against its US counterpart, falling as much as half a US cent before regaining a little ground.

At 0635 AEDT on Mondday, the Australian dollar was worth 76.76 US cents, down from 77.16 US cents on Friday.

The Australian dollar has fallen from a high of 77.20 to 76.65 before regaining some ground.

Meanwhile, the US dollar index is unchanged, following a rebound during the New York session.

The local currency has also fallen against the yen and the euro.

AAP

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