A strong US dollar and trepidation about the Reserve Bank of Australia's (RBA) next rate decision have pushed the Aussie dollar down.
At 1200 AEDT on Friday, the Australian dollar was trading at 104.50 US cents, down from Thursday's close of 105.14 US cents.
Since 0700 AEDT, it has traded between 104.43 and 104.75 US cents.
RBC senior economist Su-Lin Ong said there wasn't much to move the Aussie dollar around, although US currency strength had driven it down somewhat.
"The US dollar was a bit firmer overnight," she said.
"There was some fairly encouraging job claims data that was better than expected ahead of (US non-farm) payrolls next week.
"The US economy's looking a bit better, so that gave their dollar a boost, and other currencies fell in comparison."
US jobless claims have fallen for a second week, with 5,000 fewer claims in the week ending January 19.
Ms Ong said an upcoming meeting of Australia's central bank could also be weighing on the local currency.
The RBA is due to meet on February 5 to decide its rate position. At its last meeting, in December, the bank cut the cash rate by a quarter of a percentage point to 3.00 per cent.
Meanwhile, Australian bond futures prices were lower at noon.
At 1200 on Friday, the March 10-year bond futures contract was trading at 96.710 (implying a yield of 3.290 per cent), down from Thursday's close of 96.750 (3.250 per cent).
The March three-year bond futures contract was at 97.290 (implying a yield of 2.710 per cent), down from 97.330 (2.670 per cent).