At 07:00 (AEST), the Australian dollar was buying 63.87 U.S. cents, up from 63.45 U.S. cents on Monday.
"U.S. equity markets returned from the Easter holiday in a less optimistic mood, as did most of Asia. The U.S. dollar extended a week-long decline, boosting AUD and NZD but also JPY," Westpac Bank economists said in a morning note.
"Outperformer AUD/USD rose from 63.40 U.S. cents in Asian trade to a NY high of 64.09 U.S. cents, the highest since 12 March - before tapering off to 63.85 U.S. cents."
At 09:30 (AEST), the local unit was buying 63.98 U.S. cents.
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