The Australian dollar surged on Monday and is on track for its biggest rise this year as investors cheered a shock election win by Prime Minister Scott Morrison's conservative coalition, though mixed global stocks broadly weighed on risk appetite.
The Aussie was last up 0.9% at $0.6926, having bounced from a four-month trough of $0.6865. It was briefly quoted as high as $0.6990 but dealers said that was a miss-hit and the actual transacted peak was $0.6938.
The pound recouped some losses after posting its biggest weekly drop in six months last week, edging 0.2% higher at $1.2736 and 0.1% stronger against the euro at 87.62 pence.
Prime Minister Theresa May said on Sunday she would make a "new bold offer" to British lawmakers in an attempt to get her thrice-defeated Brexit deal through parliament before she leaves office.
Source : Reuters