The Australian dollar is up against its US counterpart despite the greenback moving broadly higher following hawkish comments from Federal Reserve officials, and finding support amid European political uncertainty.

At 0635 AEDT on Wednesday, the Australian dollar was worth 76.79 US cents, up from 76.70 US cents on Tuesday.

Cleveland Fed president Loretta Mester late on Monday said she would be comfortable raising rates at this point if the economy maintained its current performance, while Market News International quoted Philadelphia Fed president Patrick Harker as saying that a March rise was on the table.

Political uncertainty continues with concern over anti-European Union rhetoric from French presidential candidate Marine Le Pen and Dutch candidate Geert Wilders ahead of the first round of French elections on April 23 and the Netherlands’ March 15 parliamentary election.

The French presidential election waiting in the wings and polls due later this year in the Netherlands and Germany.

The local currency was also up against the yen and the euro.

AAP

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.