At 07:00 (AEST), the Australian dollar was buying 63.65 U.S. cents up from 63.23 U.S. cents on Friday.
"The defensive U.S. dollar softened a little against G10 FX, AUD/USD holding around 63.65 U.S. cents," Westpac Bank economists said in a morning note.
The moves follow a surge from 63 U.S. cents on Friday, apparently inspired by a lift in U.S. equity futures, which stopped short of 64 U.S. cents.
At 10:00 (AEST), the local unit was buying 63.41 U.S. cents.
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