The Australian dollar has hit a four week high after Australia posted its first two consecutive months of international trade surpluses in two years.
At 1700 AEDT on Thursday, the local unit was trading at 89.60 US cents, up from 88.93 cents on Wednesday.
It rallied half a US cent to a peak of 89.82 US cents after December trade figures were released.
The month's surplus was $468 million, following a surplus of $83 million in November.
The November figure was revised from a deficit of $118 million.
Exports rose four per cent and imports were up two per cent in December.
Retail spending figures were also released, up 0.5 per cent in December, but in line with market expectations.
"That export figure was higher than the market was expecting and I think that reinforces the Reserve Bank of Australia's view that they don't need to ease the cash rate any further," Forex.com research analyst Chris Tedder said.
The Australian dollar has rallied this week after the RBA said it could not be changing the cash rate anytime soon, but it has not been able to get above 90 US cents.
Mr Tedder said that level ould still be a possibility.
"Right now the Aussie in itself has the legs to get there but I don't know if the strength in the US dollar is going to allow it and that's why we're waiting for the non-farm payroll figures," he said.
Early on Saturday morning, Australian time, the US Labor Department releases non-farm payrolls data for January, the key American employment indicator.
The market is expecting an employment gain of 180,000 and the unemployment rate to be 6.7 per cent in January.