At 07:00 (AEST), the Australian dollar was buying 78.93 U.S. cents, down from 79.47 U.S. cents on Thursday.
"U.S. Q4 GDP was revised to 4.10 percent from 4.00 percent, while the core PCE remained at 1.40 percent. January durable goods orders were firmer than expected," Westpac Bank economists said in a morning note.
"AUD/USD made a three-year high at 0.8007 before slumping to 0.7870."
At 09:00 (AEST), the local unit was buying 78.79 U.S. cents.
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