The New Zealand dollar rose ahead of a speech by Reserve Bank Governor Graeme Wheeler and before the government's fiscal and economic update, which may paint a more upbeat picture of the outlook.
The kiwi dollar rose to 71.45 US cents as at 8am in Wellington from 71.19 cents late yesterday. The trade-weighted index climbed to 78.29 from 78.17.
Wheeler's speech, titled 'Some thoughts on New Zealand's Economic Expansion,' is to be published on the RBNZ website at 9am.
Wheeler cut the official cash rate to a record low 1.75 per cent on November 10 in what was seen as the last step of an easing cycle, with signs inflation will pick up this quarter.
Meanwhile, the Half-Year Economic and Fiscal Update is released at 1pm today and will help set the stage for an election-year budget next May, although Finance Minister Bill English is expected to have become prime minister by then, handing the Treasury portfolio to his successor.
