The Australian dollar has hit another six month low as the popular US dollar puts downward pressure on other currencies.

At 1200 AEST on Friday, the local unit was trading at 90.69 US cents, down from 91.61 cents on Thursday.

On Friday morning it fell as low as 90.60 US cents, the currency’s weakest level since March 24.

The Australian dollar briefly rose above 92 US cents on Thursday after the release of surprisingly strong jobs data.

FXCM market analyst David de Ferranti said the currency had lost all of those gains because investors have some doubts about the veracity of the figures.

“The fact that traders have looked past the phenomenal jobs figures, partly in disbelief, and continued to sell down the Aussie, is a warning sign of further weakness for the currency,” he said.

There is a real possibility the Australian dollar is going to fall below 90 US cents, Mr de Ferranti said.

That’s because investors are buying US dollars in anticipation of the US Federal Reserve indicating it is moving closer to an interest rate hike.

“Investors are anticipating the Fed to grow more hawkish and are pricing in the potential for greater volatility, which in turn dampens the Aussie’s yield appeal,” Mr de Ferranti said.

The US Federal Reserve meets next week and will make an announcement early on Thursday morning, Australian time.

Meanwhile, Australian bond futures prices were lower.

At 1200 AEST on Friday, the September 2014 10-year bond futures contract was trading at 96.370 (implying a yield of 3.630 per cent), down from 96.400 (3.600 per cent) on Thursday.

The September 2014 three-year bond futures contract was at 97.140 (2.860 per cent), down from 97.155 (2.845 per cent).