The Australian and NZ dollars traded higher against their major opponents in the Asian session on Monday, as risk sentiment improved on optimism over the possibility of an early rollout of coronavirus vaccine.
The FDA is looking to approve vaccine developed by Pfizer and German partner BioNTech in mid-December, triggering hopes for a swift economic recovery from the virus crisis.
Britain could grant regulatory approval to Pfizer's vaccine this week.
Investors shrugged off concerns over rising coronavirus cases and the slow pace of progress over stimulus to boost the U.S. economy.
The U.S. has already seen more than 3 million new coronavirus cases in November as of Sunday, according to Johns Hopkins University.
Total cases topped 12 million over the weekend with over 255,000 deaths ahead of Thanksgiving.
Some 70 percent of the U.S. population of 330 million would need to be inoculated to achieve "herd" immunity from the virus, according to Dr. Moncef Slaoui, chief scientific adviser for "Operation Warp Speed."
The latest survey from Markit Economics showed that Australia manufacturing sector continued to expand in November, and at a faster rate, with a Manufacturing PMI score of 56.1.
That's up from 54.2 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The aussie advanced to 5-day highs of 0.7328 against the greenback, 76.01 against the yen and 0.9576 against the loonie, off its early lows of 0.7300, 75.74 and 0.9550, respectively. On the upside, 0.75, 78.00 and 0.98 are possibly seen as its next resistance levels against the greenback, the yen and the loonie, respectively.
The aussie appreciated to 1.6209 against the euro and held steady thereafter. At Friday's close, the pair was worth 1.6227.
The aussie edged up to 1.0539 against the kiwi, from a low of 1.0519 seen in early deals. The aussie is poised to find resistance around the 1.08 mark.
The kiwi jumped to near a 2-year high of 0.6963 against the greenback and a 6-day high of 72.24 against the yen, after falling to 0.6923 and 71.84, respectively in prior deals. The kiwi is seen finding resistance around 0.72 against the greenback and 74.00 against the yen.
The kiwi spiked up to near a 2-week high of 1.7055 against the euro and held steady thereafter. At Friday's close, the pair was valued at 1.7103.
Looking ahead, PMI reports from major European economies are due in the European session.
Bank of England chief economist Andy Haldane will deliver remarks at an online event hosted by Charity Finance magazine at 4:40 am ET.
In the New York session, Markit's U.S. flash composite PMI for November is scheduled for release.