The New Zealand dollar ended the day on a strong note but finished the month almost 1 US cent lower than at the start.
By 5pm, the kiwi rose to US55.31c from US54.97c at Friday's close, compared with US56.23c on March 3.
The aussie topped the psychological US60c mark to close in Wellington at US60.35c, compared with Friday's US59.93c close.
A Bank of New Zealand currency strategist said the kiwi strengthened during the day after opening just above US55c.
"The broad-based US dollar weakness that we saw into the end of last week carried on into the local trade today, so that definitely buoyed the kiwi."
The kiwi rose through a minor resistance level today of US55.20/25c as it capitalised on the aussie's momentum.
"It's going to be really interesting to see if the kiwi can break through US55.50/60c which is a region it's topped out on several occasions. Even though it's put in a pretty good performance on the day I wouldn't get too buoyed up until it managed to get through that top-side resistance," the strategist said.
The kiwi's range during the day was US55.05/38c.
In the Tokyo session, the greenback was at a two-week low against the euro as worries about the US economy arose again, while the prospects worsened for a quick end to the US-led attack on Iraq.
In Wellington at 5pm, the euro was at $US1.0826, from Friday's $US1.0687, while the US dollar weakened to 119.32 yen from 120.25 yen.
On the crosses, the kiwi was buying A91.66 (A91.73c on Friday), 0.5109 euro (0.5144), 35.09 pence (35.10), 0.7543 Swiss francs (0.7607) and 65.99 yen (66.11).
The Australian dollar was buying $NZ1.0911 ($NZ1.0902).
On the money market, 90-day bills were at 5.83 per cent (5.86), the monetary conditions index was unchanged at plus 198, and the trade-weighted index was at 60.81 (60.79).
Bonds fell across the curve after benchmark US treasury prices ended higher on Friday, the fifth straight session of gains. The April 2004s were at 5.42 per cent (5.48), the November 2006s were at 5.48 per cent (5.58) and the November 2011s were at 5.94 per cent (6.03).
- NZPA
<i>Currency:</i> Kiwi perches above US55c at month's end
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