The Australian dollar fell to a one-month low during overnight trading as bombings in Boston and disappointing Chinese economic growth weighed on market sentiment.

At 7am AEST the local unit was trading at 103.15 US cents, down from 104.33 cents at yesterday’s local close.

During the overnight offshore session, the currency dipped to 102.91 US cents, its lowest level since March 14.

The Australian dollar started falling yesterday afternoon when China reported economic growth of 7.7 per cent in the first quarter of 2013, down from the previous quarter's 7.9 per cent.

This morning the currency was pushed even lower after two bombs exploded near the finish of the Boston Marathon, killing two people and injuring at least 23 others.

HiFX senior trader Stuart Ive said share markets, currencies and commodity prices all lost ground following the explosions.