The Australian dollar is rallying again - back above US72c

Photo by Stu Forster/Getty Images

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.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.