Kiwi jumps to highest US dollar rate since float

The New Zealand dollar today jumped to its highest exchange rate against the greenback since it was floated in March 1985, and reached US83.18c just after 3pm.

Its previous post-float high of US83.01c was notched up last Friday night.

Reuters reported the outperforming kiwi had pushed the Australian dollar exchange rate against the NZ dollar down to $NZ1.2906, off this week's high around $NZ1.3045, but the aussie had also powered to 26-year highs against the pound sterling and hit 3-week peaks against the US dollar on Thursday.

Overnight the NZ dollar also powered to a new post-float high against the British currency, and by 3pm was trading around 51.60p.

NZPA

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