The Australian dollar is slightly higher, reflecting positive US jobs data.
At 0705 AEDT on Monday, the Australian dollar was trading at 107.27 US cents, up from 106.88 cents on Friday afternoon.
The local currency reached a six-month high of 107.69 (AEDT) at midnight on Sunday.
GFT Forex director of currency research Boris Schlossberg said the local currency was still playing strongly on optimistic jobs data from the US, the non-farm payrolls.
"If you look at the Australian dollar compared to other risk currencies, it has held up remarkably well following the non-farm payrolls," he said.
"This is because in the currency market, the Australian dollar, is the only pure risk trade left. It has a high yield and it responds very well to positive risk appetite in the equities market.
"If we see buoyant attitudes amongst investors on the equities side, I think the Australian dollar will continue to hold ground and perform well as we go forward."
On Friday, non-farm payrolls data showed an increase of 243,000 jobs during January in the US.
World markets traded strongly over the weekend on the result which was much better than forecast.
Mr Schlossberg said this data - as well as other global indicators - could see the Australian dollar maintain its highs.
"The numbers on the US side were really good, but growth in Europe is also surprisingly robust," he said.
"If the whole global growth scenario of two-and-a-half to three per cent continues to hold for the first half of the year, the Australian dollar is going to reflect that on the positive side."
Mr Schlossberg said that current downsides in the market were reflecting doubts about Europe's ability to quickly resolve its debt crisis.
"If they can resolve the Greek situation at least, that's going to provide a great deal of relief," he said.
"The Australian dollar is also going to be looking at the RBA (Reserve Bank of Australia), and whether it decides to cut rates.
"The market is pricing in a 75- to 80-per cent chance of a rate cut, but they could surprise us and remain stationary."
The Reserve Bank is expected to cut rates for a third consecutive time when it meets on Tuesday.
