KEY POINTS:
The New Zealand dollar raced up nearly 2-1/2 cents against the greenback early on the weekend, as the United States and Japanese currencies took a step down against the euro.
The movement came after bleak US jobs data spurred hopes Congress will act quickly to pass a stimulus package to help the US economy, reviving investor appetite for risk.
From around US51.2c on Friday evening, the kiwi moved up quickly to around US53.6c on Saturday morning, its highest level in more than a week. It has since eased and by 8am today was buying US52.95c.
Against the yen the NZ dollar got up to around 49.4, its highest level in 2-1/2 weeks, before slipping to 48.76 yen by today's local open.
The improved risk sentiment boosted higher-yielding currencies including the Australian and New Zealand dollars, both of which soared more than 3 per cent against the greenback.
Against the Australian dollar, the kiwi largely moved in a range between A79c and A78.5c overnight Friday, and by 8am today was around the bottom of that range at A78.54c.
The NZ dollar also moved up overnight Friday from around 0.4 euros to 0.414, its highest level in 2-1/2 weeks, then eased to 0.4089 at 8am.
- NZPA
