The Australian dollar has comfortably breached the 77 U.S. cents mark.

At 0700 local time (AEDT) on Tuesday, the local unit was trading at 77.18 U.S. cents, up from 76.76 U.S. cents on Monday.

Commonwealth Bank of Australia senior currency strategist Elias Haddad said the Australian dollar was the top performing major currency overnight on positive financial market sentiment triggered by lower U.S. political uncertainty and higher commodity prices such as iron ore and coking coal.

"The next Australian dollar centric event is today's (Tuesday) October Chinese trade balance," Haddad said.

"The Australian dollar can sometimes be sensitive to the Chinese iron ore import data," he said.

At 0917 local time (AEDT), the Australian dollar was trading at 77.22 U.S. cents.