The Aussie was last trading at US89.40c.

Mining and technology stocks were among the biggest losers, with the basic materials sector down 0.8% on the session.

The S&P/ASX 200 index closed 0.5% lower at 5411 points.

Trading coincided with more erosion in the iron ore price to $117.80 per tonne and a 0.9% fall in the price of gold to about $1330 per ounce.

Gold companies returned as some of the more erratic performers, with the hardest hit players including Hampton Hill Mining, which lost 45.4% to A3c and Orion Gold, which fell 45% to 5.5c despite announcing base metal exploration progress in Western Australia’s Fraser Range region.

Other standouts in the gold space were Northwest Resources (down 13.3% to 1.3c) and gold-mineral sands explorer Falcon Minerals, which lost 21.4% to 1.1c.

Silver Lake Resources, meanwhile, requested a trading halt pending an announcement expected by Monday on the outcome of a strategic review at its Murchison gold operations in WA where the company recently reduced its production guidance from 60,000-70,000oz to 45,000-50,000oz.

The major miners continued to reflect market unease about a slowdown in China’s growth rate, with BHP Billiton down 0.5% to $38.38 and Rio Tinto losing 0.5% to $66.60.

The session also coincided with data from the Australian Bureau of Statistics revealing that an overall decrease in new capital expenditure had been driven by mining.

The seasonably adjusted estimate for total new capex fell 5.2% in the December quarter, with mining falling 5.5% on lower equipment and plant investment.

Other industry movers included diversified explorer 3D Resources (down 28.6% to 2c), Cobar Consolidated Resources (down 9.2% to 7.9c) and Bougainville Copper, which managed a 10.1% gain to 60c.