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The Australian share market remains has dropped across the board ahead of a meeting between the US and Chinese leaders at the G20 summit in Japan.

The benchmark S&P/ASX200 index was down 47.5 points, or 0.71 per cent, to 6,618.8 points at 1615 AEST on Friday, while the broader All Ordinaries was down 43.8 points, or 0.65 per cent, at 6,699.2.

The Aussie dollar rose above 70 US cents for the first time in three weeks, buying 70.12 US cents, from 69.94 US cents on Thursday.