The Australian dollar has dropped after weaker than expected inflation numbers were released.
The local currency has slipped against the greenback since its peak this morning to 105.47 US cents.
The Australian share market is making modest gains.
The All Ordinaries index was up 14 points to 4,820, and the ASX 200 was up about 0.3 per cent to 4,795 just before midday (AEDT).
Shares in fertiliser maker Nufarm have dropped by more than 8 per cent after its said trading conditions will negatively impact its results.
BHP Billiton was up 1.2 per cent to $37.04 after releasing its latest quarterly production results this morning.
Rival Rio Tinto had lost 0.2 per cent.
Most of the big four banks are making gains - Westpac was up 0.8 per cent, with NAB and ANZ up by slightly less.
However, the Commonwealth Bank was trading flat around $62.57.
Shares in Telstra were up 0.3 per cent.