$A higher after Thursday's losses
The Australian dollar has recovered some of its earlier losses amid signs of underlying weakness.
At 1700 AEST on Friday, the local currency was trading at 93.87 US cents, up from 93.69 cents on Thursday.
CMC chief market strategist Michael McCarthy said the local unit traded within a tight range on Friday amid underlying weakness in the currency.
"While we had a fairly muted trading day I suspect that the potential for US dollar strength means there's a fair bit of positioning going on," Mr McCarthy said.
"There's a fair bit of selling ahead of next week."
The currency was also weighed down by disappointing Chinese trade figures and concerns over the health of Portugal's largest listed bank, Banco Espirito Santo.
Mr McCarthy said there had some pressure on high interest rate currencies overnight with a move back to safe haven assets.
