The Australian dollar is higher on greenback weakness, amid expectations that the US Federal Reserve will not begin tapering its economic stimulus this year.
At 1700 AEDT on Monday, the local unit was trading at 96.73 US cents, up from 96.27 cents on Friday.
Early on Monday morning, the currency peaked at 96.81 US cents - its highest level since June 4 - with sentiment boosted following the end of the US political battle, which saw the government reopened and the debt ceiling raised.
"It's a general risk-on sentiment, as evidenced by the stronger equity markets," CMC Markets chief market analyst Ric Spooner said.
The Australian share market closed at a new five-and-a-half-year high on Monday, after US and European markets lifted at the end of last week as US government services were re-opened.
The Australian dollar is being boosted by the continued selling-off of the US dollar, Mr Spooner said."There was further adjustment going on to reflect what is now the consensus view that the Fed is not going to start tapering its monetary policy until early next year at least - no earlier than March."