The Australian dollar slid against its U.S. counterpart on Friday, with the U.S. dollar strengthening after solid data results.

At the Asian open, the Australian dollar was buying 79.68 U.S. cents, down from the 80.37 U.S. cents it was trading at late Thursday.

The Australian dollar was trading lower due to the strength of the U.S. currency, according to Richard Grace, chief currency strategist at CommSec, who told Xinhua in a statement that some of the gains in the U.S. dollar could be attributed to the pulling of key support for the border-adjusted tax that had been proposed.

"Commodity prices as well as European and U.S. equities put in a mixed performance overnight," Grace said.

"Australian second quarter PPI data is out today at 11:30 (AEST) Sydney time. It generally attracts less attention now that it is released after the second quarter consumer price index."

At 0810 local time (AEST), one Australian dollar was buying 79.68 U.S. cents, while crude oil was trading at 49.04 U.S. dollars per barrel.