The Australian dollar jumped half a cent to a new four-month high in a late rally on Tuesday, even as currency strategists expect it to slip below US90¢ in this quarter.

The Australian dollar soared as high as US93.29¢ as trading commenced in Europe, taking it to its highest since late November. The Aussie also gained against other currencies and was in late trade fetching 95.79 yen and 67.79 euro cents.

The currency, which has risen by more than 3.5 per cent against the US dollar and the euro this year after a 14 per cent plunge last year, has defied the bears this year amid growing optimism about the domestic economy.

The Aussie spiked above US93 cents as London traders came online, with many buying the currency to cover short positions ahead of the latest official employment figures to be released by the Australian Bureau of Statistics on Thursday, ThinkForex senior markets analyst Matt Simpson said.

"That number is expected to show the labour market is improving, providing further support for the dollar," Mr Simpson said.