The Australian dollar is tumbling

Markets Insider

The Australian dollar is tumbling on Friday, extending losses from earlier this week.

The Aussie dollar was down by 0.8% at 0.7735 per US dollar at 10:11 a.m. ET. 

The Australian dollar started sliding against the greenback on Friday minutes before the US jobs report crossed.

There's also been some news out of the Australian central bank and recent weakness in the country's economic data.

Earlier Friday, Reserve Bank of Australia board member Ian Harper was reported to have said that he's not ruling out a rate cut, according to Bloomberg. The currency tumbled after that report crossed.

Retail sales, meanwhile, unexpectedly slipped 0.6% month-over-month in August, according to data released Thursday. Economists were expecting an uptick of 0.3%.

The Australian dollar is at its lowest point in nearly three months.

NOW WATCH: Why Martin Shkreli’s view on corporate profits is misguided