The Australian dollar fell to its lowest level in a month, amid negative sentiment about China’s economic outlook and speculation that Australia’s mining boom might be waning.

At 1700 AEST on Monday the local currency was trading at 103.85 US cents, down from 104.16 cents on Friday.

It was at at 81.73 Japanese yen, down from 81.87 yen on Friday, and at 83.11 euro cents, up from 83.03 euro cents.

During intraday trade the Australian dollar fell as low as 103.72 US cents, its lowest level in a month.

Easy Forex currency dealer Tony Darvall said speculation that the mining boom may be over and doubts about the Chinese economy continued to weigh on the local currency.

Chinese economic data released last week showed activity in the country’s manufacturing sector slumped to a nine-month low in August.

BHP Billiton’s announcement last week that it would postpone the multi-billion-dollar expansion of its Olympic Dam gold, copper and uranium mine in South Australia prompted a debate about whether the mining boom was over.

Mr Darvall said positive signs about the global economy, including indications of an improvement in Europe, were helping to underpin support for the Australian dollar.

“It’s (the Australian dollar) technically in a downward trend but it is (falling) very slowly,” he said.

“The rest of the world is fairly strong at the moment and we expect that will direct the Aussie’s movements more.”

Mr Darvall said the Australian dollar would remain relatively stable and could possibly push slightly higher over the next few days.

Meanwhile, Australian bond futures rose slightly in a quiet day of trading.

At 1630 AEST on Monday, the September 10-year bond futures contract was trading at 96.880 (3.120 per cent), up from 96.845 (3.155 per cent) on Friday.

The September three-year bond futures contract was trading at 97.390 (2.610 per cent), up from 97.360 (2.640 per cent).