The New Zealand dollar finished today 40 basis points higher against its beleaguered United States counterpart.
At 5pm, the kiwi was at US72.57c (from US72.20c at 5pm Friday), having ranged between US72.13c and US72.56c today. The kiwi began the session at US72.17c and gained through the day.
ANZ Investment Bank senior dealer Mark Elliot said the kiwi's gains were based solely on US dollar weakness.
"Its been pretty much one way traffic all day," he told NZPA.
"The euro's well up, as is sterling, as is the yen, as is the aussie."
The greenback was fetching 104.74 yen (105.41). The euro was at $US1.3272 ($US1.3199), and the Australian dollar was at US79.07c (US78.52c).
On its crosses the kiwi was buying A91.79c (A91.93c), 0.5468 euros (0.5470), 37.74 British pence (37.80), 76.00 yen (76.10) and 0.8417 Swiss francs (0.8439).
Meanwhile, the Trade Weighted Index (TWI) was at 69.99 (69.93). The monetary conditions index was at plus 1002 (1000).
On the money markets, 90-day bank bill yields were at 6.85 percent (6.86), July 2009 bonds were at 6.20 percent (6.16) and April 2015s were at 6.07 percent (6.02).
This week will see the kiwi reach a 20-year milestone. The kiwi floated on March 4, 1985, at US44.4c. Early last week it hit a post-float high of US73.05c.
- NZPA
<EM>Currency:</EM> Kiwi gains 40 basis points on on weakened US dollar
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