The Australian dollar, on the back of improved investor sentiment, has moved back above US72c.
Moments ago the AUD/USD hit a session of high of .7205, an increase of 0.50% from the New York closing level.
The move corresponded with the opening of Chinese financial markets.
Yuan strength, courtesy of a lower USD/CNY fixing from the PBOC on Friday, along with another surge in Chinese stocks appear to have contributed to the spike higher.
The pair is now 1.5 cents, or 2.2%, above the low of .7051 struck on Monday evening.
The Aussie is also up 0.50% against the Japanese yen (87.18) and euro (.6402)
It is marginally weaker against the New Zealand dollar, fetching 1.1074.