Early trading shows the local currency at US 92.96 cents. The value is up from Friday's close of $US 92.31 cents. It was buying 78.28 yen, 60.47 pence, and 73.07 euro cents.

Since 5 p.m. on Friday, the local unit has traded between US$ 92.32 cents and US$ 93.07 cents. The Aussie dollar also touched a record high against the euro last week. It has become, like equities, the risk-seeker's favorite investment. A stable Asian region throughout 2011 will mean solid growth for the Australian dollar.

The local currency gained strength on the Chinese economic data. Industrial production in the world's third largest economy climbed at a 13.9 percent annual rate in August. Retail spending increased 18.4 percent and consumer price inflation hit a 22-month high of 3.5 percent in the same month.

The Australian dollar is being pushed higher as investors assess the strength of Australia's economy. However, the local unit will be hit repeatedly by changing market assessments of risk. A set of international meetings over the next six weeks will elevate market concerns into the political domain.

The International Monetary Fund is meeting in Washington early next month, followed by the G20 finance ministers and central bank governors later in October, and the G20 leaders' summit in Korea in early November.