The dollar fell against the greenback amid speculation the Federal Reserve will further trim its bond buying programme next week.

The economic recovery will stall if banks have their way and interest rates are lifted in January, the EMA says.

Accelerating inflation isn't expected to sway the Reserve Bank from a March rate hike, as rising consumer prices firm up the outlook of a strengthening economy.

The Kiwi dollar climbed to a new eight-year high after weak Aussie jobs data highlighted divergent interest rate outlooks between the neighbouring economies.

The New Zealand dollar touched an eight-year against its trans-Tasman counterpart ahead of Australia employment figures.

NZ business confidence has soared to a 20-year high, lifting hopes for profits, hiring and new investment.

The NZ dollar gained after weaker than expected US employment figures on Friday sapped optimism over the pace of the Fed's plans to scale back its asset purchase programme.

Auckland's average house price rose to a record in December as property values benefited from a lack of supply heading into summer.

New Zealand's inbound migration remained elevated in November as new migrants kept arriving and fewer locals drifted across the Tasman.

Rebounding dairy production has driven the biggest gross domestic product (GDP) increase since the December 2009 quarter.