Australian dollar rises on upbeat outlook

The Australian dollar rose against most of its peers on Thursday thanks to positive outlook and optimism about the Australian economic recovery this year.

Goldman Sachs' analysts projected that the Australian dollar would rise to record highs in the coming period.

Analysts also forecast that the Australian economy and other global economies would gradually recover from the coronavirus impact.

This comes as several countries launched Covid-19 vaccination campaigns using the Pfizer-BioNTech vaccine in addition to  vaccines by AstraZeneca-Oxford and Moderna.

Johns Hopkins University reported that the number of Covid-19 infections rose to more than 92 million cases worldwide, with a death toll of nearly 2 million victims.

As of 16:47 GMT, AUD/USD rose 0.7% to 0.7784, after hitting a high of 0.7786 and a low of 0.7729.