At 7am AEDT, the dollar was trading at $US0.6744/52, up marginally from Friday's close of $US0.6741/44.
During the offshore session, the currency moved between a low of $US0.6624 and a late high of $US0.6758.
The domestic unit rose during the weekend as traders awaited the swearing in of Mr Obama as the 44th president of the United States on Wednesday morning Australian time.
With the President-elect's Democratic party in control of Congress, the incoming administration's $US825 billion ($1.24 trillion) economic stimulus is expected to be signed into law within weeks.
Bank of New Zealand head of foreign exchange Mike Symonds said impending change in Washington had boosted investor appetite, which helps high-yielding currencies.
"The market's looking forward to Obama's inauguration this week," Mr Symonds said from Wellington.
"There seems to be a degree of optimism the inauguration will calm markets and help investor confidence.
"My view is it will be shortlived but there seems to be a broader view it will help risk trade for the Aussie and Kiwi dollars."
A slight improvement in risk sentiment was reflected on Wall Street on Friday night, with the S&P 500 index rising by a marginal 0.76 per cent.
The dollar was expected to hold above Friday's closing levels for most of the local session, with official lending finance data for November and the TD Securities inflation gauge for December having little effect.
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