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SYDNEY, AAP – Australia’s share market has closed marginally lower while the Australian dollar reached its highest level in almost three years.

The S&P/ASX200 benchmark index closed lower by 12.9 points, or 0.19 per cent, to 6780.9 on Monday.

The All Ordinaries closed lower by 2.4 points, or 0.03 per cent, at 7061.6.

The materials sector was the only one which closed higher and rose 2.58 per cent.

Meanwhile the Australian dollar rose to 79.09 US cents on Monday, its highest level since March 2018.

The dollar was buying 78.82 US cents at 1622 AEDT, higher from 77.71 US cents at Friday’s close.