The New Zealand dollar spent the day camped out on multi-year highs against the British pence, while it continued to hold up against the euro.
At 5pm, the kiwi was fetching 39.22 British pence (from 39.17 pence at the same time yesterday), its highest since October 1997. It began today's session at 39.20 pence.
Against the euro the kiwi was at 0.5887 (0.5885), having last night pushed through 0.5900 for the first time since October 1997.
The kiwi was fetching US70.87c (US70.73c), having today ranged between US70.68c and US70.94c.
A National Bank currency dealer said the kiwi had done particularly well against the pence and euro today.
"People forget how much we export to that part of the world. It's lucky the export season is low," the dealer said.
"The kiwi and aussie are holding up on demand and yield," he said, adding they had been underpinned by Finance Minister Michael Cullen's comments today.
In Parliament's finance and expenditure select committee, Dr Cullen said the Reserve Bank could not reduce the official cash rate (OCR) because it was fighting inflation.
The OCR is currently at 6.75 per cent, and Reserve Bank governor Alan Bollard said there was no scope for interest rates to be cut in the "foreseeable future".
On its major crosses, the kiwi was buying A92.87c (A92.64c), 77.42 yen (77.36), and 0.9045 Swiss francs (0.8989).
The euro was at US$1.2037 (US$1.2123), the greenback was at 109.25 yen (109.35), and the aussie was at US76.31c (US76.33c).
The US dollar gained overnight after soft US economic data failed to alter the market's view that the Federal Reserve would keep raising interest rates.
The trade-weighted index was at 71.35 (71.12), while the monetary conditions index was at plus 1119 (1105).
On the money markets, 90-day bank bill yields were at 7.05 per cent (7.07), July 2009s were at 5.94 per cent (5.91), and April 2015s were at 5.81 per cent (5.77).
- NZPA
<EM>Currency:</EM> Kiwi in new high against British pound
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