The Australian dollar was down as low as US87.77c overnight after the unemployment data was released showing a loss of 68,000 full time jobs in 2013. This is the lowest the Australian Dollar has been since July 2010.
The Australian Dollar has been trading at US88.15 cents as of 7am.
Because of these low figures, fears are starting to swirl that the Reserve Bank will be forced to consider another rate cut, as early as next month.
Read more about this on the Australian website.