The Australian dollar is higher as markets recover from news of the Malaysia Airlines crash in eastern Ukraine.
At 0700 AEST on Monday, the local currency was trading at 93.93 US cents, up from 93.72 cents on Friday.
The currency fell on Friday amid fears Flight MH17 from Amsterdam to Kuala Lumpur was shot down by pro-Russian rebels.
The crash dampened risk appetite but that began to turn around on Friday night, Bank of New Zealand strategist Kymberly Martin said.
“There was an improvement in risk appetite on Friday night,” Martin said.
“Markets suffered quite a bit of risk aversion following the events in Ukraine but, on Friday night, we saw a bit of a reversal with US equities rising.
“The Australian dollar was a beneficiary of that.”
AAP