The Australian dollar was slightly higher, but had marked time during the afternoon session after traders earlier pushed it to a fresh one-week high in response to brighter consumer confidence data.
At 1700 AEDT on Thursday, the currency was trading at 103.50 US cents, up from up from 103.39 cents on Wednesday.
It rose to 103.71 US cents early on Thursday after international markets reacted to Wednesday's improved domestic consumer sentiment data.
On Wednesday the Westpac/Melbourne Institute Consumer Sentiment Index rose 7.7 per cent to 108.3 in February, its highest level since December 2010.
LTG Goldrock director Andrew Barnett said on Thursday that the Australian dollar spent the afternoon session marking time.
"It's just waiting around at the moment, waiting for a catalyst to take it higher or lower," he said.
Mr Barnett said the currency's post consumer-data rally was likely to be reversed over the next few days.
"At the moment the Aussie is a bit sort of lacklustre, it has had a bit of a dead cat bounce and there has been a few opportunistic buyers.
"I really don't see a lot of big money coming for it unless we get some sort of catalyst."
Mr Barnett said the key events for currency markets overnight would be the release of GDP figures for Germany, France and the euro zone.
At 1700 AEDT, the Australian dollar was at 96.83 Japanese yen, up from 96.21 yen on Wednesday, and 77.05 euro cents, up from 76.90 euro cents.
Meanwhile, Australian bond futures prices moved lower amid ongoing strength on global equities markets.
"The global backdrop is very positive for riskier assets, so you're seeing stock markets perform very well," ANZ head of interest rate research Tony Morriss said.
He said that, with the Australian share market at a four-year high and expectations rising that the Reserve Bank would cut interest rates, bonds were likely to weaken further.
At 1630 AEDT on Thursday, the March 10-year bond futures contract was trading at 96.430 (implying a yield of 3.570 per cent), down from 96.520 (3.480 per cent) on Wednesday.
The March three-year bond futures contract was at 97.090 (2.910 per cent), down from 97.150 (2.850 per cent).