NZ dollar close to record highs against aussie and strong against yen and euro.
The New Zealand dollar is heading for a 5 per cent decline against the greenback in 2014, a year which saw the kiwi soar close to a post-float high and prompted the central bank to intervene to bring it down.
The kiwi began the year at US81.91c and touched US88.35c in July - within a whisper of its post-float high of US88.40c - but has since declined to trade recently at US77.85c. The expanded trade-weighted index is at 79.13, having started the year at 77.86.
The currency was on a tear in the first half of the year, driven by optimism from the rebuilding of earthquake-damaged Christchurch and Fonterra Co-operative Group's record payout to dairy farmers.
Reserve Bank governor Graeme Wheeler hiked the benchmark interest rate at four consecutive meetings to ward off inflation, bolstering the kiwi's appeal in a global environment of record low interest rates.