Australia's dollar is trading lower amid uncertainty over the result of weekend federal elections, with vote-counting continuing and the two major political parties lobbying independent lawmakers for support.
With no clear majority in Saturday's poll, Australia was set for its first minority government since World War II.
In response, the Australian dollar opened 0.44 per cent lower on Monday as uncertainty remains over the federal election result, trading at 88.63 US cents, compared to Friday's close at 89.46 cents. Shares on the Australian stock exchange also opened marginally lower.
With over 78 per cent of the vote counted, the Australian Electoral Commission says the ruling Labor Party has won 71 seats and the opposition coalition 72.