The Australian dollar has fallen below a three-and-a-half-year low against the greenback.

Shortly before 9:00am (AEDT) the local currency was fetching 87.68 US cents.

It is set to be a flat start to trade on the Australian share market after a mixed end to the week on Wall Street.

In futures trading, the ASX SPI 200 index was 2 points lower at 5,265.

On Wall Street at the weekend the blue chip Dow Jones Industrial Average rose by 0.25 per cent to 16,459, while the benchmark S&P 500 index lost 0.4 per cent.