The Australian dollar's record-breaking run continued today, with the currency touching a fresh high against the greenback and the euro.

The dollar hit 101.98 US cents at 12.45pm eastern daylight time, the highest level since the currency was floated in the early 1980s.

It inched past the previous record of 101.83 US cents, set in early November, in offshore trade before making a second run late this morning to pull up just shy of 102 US cents in the early afternoon. By about 5pm, it had fallen about a third of a US cent to 101.64.

And against the European common currency, which is used in 16 European Union member states, the Aussie dollar hit a record of 77.35 US cents in after-hours trade last night, but had come back a little this morning to trade slightly below 77 euro cents by 4pm. The dollar's long-term average against the euro is 59 euro cents.

The US dollar hit a seven-week low against the yen and dropped against the euro as US government bond yields tumbled, diminishing the appeal of the greenback.