KEY POINTS:
The New Zealand dollar started the week broadly stronger mostly because of a big economic stimulus package in China.
The election of a National Party-led government on Saturday was welcomed but dealers said the market continued to reflect the latest news in the global financial story.
By 5pm the kiwi was buying US59.67c, having traded as high as US60.08c in the domestic session. It closed on Friday at US58.68c.
"Euro, aussie and kiwi strengthened," said Murray Hindley, ANZ Institutional Bank chief foreign exchange dealer.
Attempts to push the NZ dollar lower throughout Friday's trading session were easily thwarted by those looking to square up short positions ahead of the election.
The United States dollar dipped against most major currencies after data showed US employers cut 240,000 jobs last month, pushing the jobless rate to a 14-year high and adding more dark clouds to a gloomy economic horizon.
But US equities managed to rally and the US$600 billion ($1015 billion) Chinese stimulus package boosted Asian equity markets.
The NZ dollar gained against a weak Japanese currency and was at 58.95 yen by today's local close from 57.15 at 5pm Friday.
Against the euro the kiwi was up to 0.4638 by 5pm from 0.4605, and it was down slightly to A87.17c against the Australian dollar from A87.90c at Friday's local close.
The trade weighted index was up to 60.00 at 5pm from 59.37 on Friday evening.
Currency rates:
NZ dlr/US dlr US59.67c US58.68c
NZ dlr/Aust dlr A87.17c A87.90c
NZ dlr/euro 0.4638 0.4605
NZ dlr/yen 58.95 57.15
NZ dlr/stg 37.72p 37.45p
NZ TWI 60.00 59.37
Australian dollar US68.45c US66.70c
Euro/US dollar 1.2873 1.2740
US dollar/yen 98.75 97.38
- NZPA
