The Kiwi weakened after Fed minutes of its January meeting showed some officials raised the possibility of rate rises "relatively soon".

The dollar was the weakest performer overnight, after comments by Bill English that the kiwi may be 20% overvalued.

A London-based hedge fund manager says it's only a matter of time before the Kiwi dollar plunges.

The global financial crisis is far from over and the underlying problems that gave rise to it remain unsolved, says Lord King.

Westpac has revised up its NZ growth forecast for 2014 to 4.2% and expects the Kiwi dollar to remain high against the US and Aussie dollars.