KEY POINTS:
The New Zealand dollar is continuing to strengthen against the US dollar due to weakness in the greenback and the ongoing attraction of New Zealand's high interest rates.
Around 5pm today the kiwi was buying US77.05c from US76.73c at 8am and US76.38c at 4.30pm on Friday.
ANZ bank warned that the NZ dollar may find itself a "reluctant flyer" this week mostly because of a weak US dollar.
"Last week's themes of US dollar weakness and renewed carry trade appetite look likely to continue this week," Danica Hampton of BNZ said in a commentary.
The market was 90 per cent sure that the US Federal Reserve would cut interest rates at its meeting on October 31 US time. If it did, it would be perceived as a signal that the Fed was prepared to do whatever it had to to restore confidence in the US economy.
The NZ dollar was also buying 87.96 yen, up from 87.30 on Friday afternoon, while against the euro it showed little movement - from 0.5334 to 0.5347 at 5pm today.
Against the Australian dollar the kiwi is finding the going harder. The cross rate was at A83.45c from the A83.89c on Friday afternoon.
The Australian central bank is expected to hike interest rates on November 7.
The trade weighted index was 71.32 from 71.03 on Friday.
Reuters currency rates
5pm today 4.30pm Friday
NZ dlr/US dlr US77.05c US76.38c
NZ dlr/Aust dlr A83.45c A83.89c
NZ dlr/euro 0.5347 0.5334
NZ dlr/yen 87.96 87.30
NZ dlr/stg 37.50p 37.22p
NZ TWI 71.32 71.03
Australian dollar US92.35c US91.03c
Euro/US dollar 1.4411 1.4322
US dollar/yen 114.17 114.28
- NZPA