The Australian dollar is higher after the greenback lost some of its strength.
At 0700 AEST on Tuesday, the local currency was trading at 93.73 US cents, up from 93.57 cents on Monday.
The US dollar has been on a high since non-farm payrolls came in much stronger than expected last week.
But the greenback drifted lower overnight, lending support to the Aussie dollar.
“With no new news flow and fatigued investors, who are now waiting for more definitive signs that something will happen on the central bank front, there was a lot of drift overnight,” National Australia Bank senior currency strategist Emma Lawson said.
“Most markets slowly reversed their moves of the prior few days: equities were weaker, US yields were lower, oil and gold were off and the US dollar was softer.
“While last week’s US labour market data was very good, we need more evidence in the face of a very reluctant US Federal Reserve.
“That may mean more of this range trading, especially in the absence of key US data this week.”
Investors on Tuesday would be focused on the NAB business survey, Lawson said.
AAP