The Australian dollar is flat after weak eurozone data and encouraging US jobs figures pulled the currency in opposite directions.
At 0700 AEDT on Friday, the local unit was trading at 103.49 US cents, down from 103.50 cents on Thursday.
Since 1700 AEDT on Thursday, the Australian dollar has traded between 103.27 US cents and 103.66 cents.
New claims for US unemployment insurance benefits fell last week to their lowest level since January 2008, a sign that employment growth may be picking up.
Earlier in the overnight session, it was revealed that the eurozone recession was getting worse.
The region's economy shrank 0.6 per cent in the December quarter, following a contraction of 0.1 per cent in the previous quarter.
"Initially, the Australian dollar fell on the European data and then it rebounded with US equities that were partly boosted by the US jobless claims data," Westpac New Zealand senior market strategist Imre Speizer said.
"There was a little bit of fluctuation but it was confined within a half a US cent band."
The euro fell more than one US cent after the release of the economic data, hitting a one-month low of 133.15 US cents.
The two-day G20 meeting of finance ministers and central bankers, which wraps up on Friday, is discussing the issue of countries manipulating the value of their currencies and the recent heavy fall in value of the yen
Mr Speizer said a draft communique from the meeting had already been leaked but avoided the phrase "currency war".
"Countries will commit to avoiding exchange rate misalignments," the statement said.
"That's pretty wishy-washy really," Mr Speizer.
"If that's what the communique says, I don't think there will be a stir in the markets."