The AUD/USD pair edged higher during the early European session and refreshed two-week tops, around the 0.7745 region in the last hour. The pair built on its recent bounce from over one-month lows, around the 0.7565 region touched last week and traded with a positive bias for the fourth consecutive session on Wednesday. The uptick was supported by the prevalent upbeat market mood, which weighed on the safe-haven US dollar and benefitted the perceived riskier aussie.
The underlying bullish sentiment in the financial markets remained well supported by the optimism over the progress in COVID-19 vaccination. This, along with the likelihood of a massive US fiscal spending, has been fueling hopes for a strong global economic recovery from the coronavirus pandemic and continued boosting investors' confidence.