The Australian dollar continues to be weighed down by strong US jobs data which support the case for tapering US quantitative easing sooner rather than later.

At 1200 AEDT on Monday, the Australian dollar was trading at 93.77 US cents, down from 94.65 cents on Friday.

US employers added 204,000 jobs in October – an unexpected boost given that the federal government was partially shut down for 16 days.

Employers also added 60,000 more jobs in the previous two months than earlier estimated.

The data dragged the Australian dollar lower, despite better-than-expected industrial production data out of China, Commonwealth Bank currency strategist Peter Dragicevich said.

“After Friday’s moves following the stronger-than-expected US payrolls, the Aussie hasn’t really done a lot,” he said.

“There was pretty good data showing the Chinese economy is probably going to accelerate into year-end and typically you’d see some positive reaction to the Aussie but we’ve had a fairly muted reaction.”

Mr Dragicevich said the Aussie dollar was likely to spend the rest of the week consolidating, with little local or US economic data expected.

The US data also drove bond futures prices lower.

At 1200 AEDT, the December 10-year bond futures contract was trading at 95.815 (implying a yield of 4.185 per cent), down from 95.915 (4.085 per cent) on Friday.

The December three-year bond futures contract was at 96.830 (3.170 per cent), down from 96.900 (3.100 per cent).