SYDNEY, AAP – Australia’s share market has wavered in the second half of trade and closed a little lower while the dollar struggled to trade for more than 70 US cents.

The heavyweight financials category was the worst performer on the ASX and lost 1.83 per cent on Monday.

Financials were not helped by a US dollar gaining value from expected rate rises this year.

The Aussie dollar traded for 69 US cents for the first few hours of the trading day.

The benchmark S&P/ASX200 index closed down 16.5 points, or 0.24 per cent, to 6971.6 points.

The All Ordinaries index closed higher by 2.0 points, or 0.03 per cent, to 7268.3 points.

The Australian dollar was buying 70.14 US cents at 1622 AEDT, lower from 70.37 US cents at Friday’s close.