The Australian dollar is lower against its US counterpart which has risen against a basket of currencies on re-ignited hopes of a US Federal Reserve interest rate rise.

At 0635 AEDT on Tuesday, the Australian dollar was worth 75.49 US cents, down from 76.67 on Monday.

The US dollar rose 0.14 per cent against a basket of major currencies, after touching its highest level in almost three weeks, on expectations President Donald Trumps reflationary policies would stoke economic growth and the possibility the Federal Reserve could be more aggressive in lifting interest rates.

AAP

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