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The Australian dollar climbed to a 4-1/2-month peak on Thursday as startlingly strong jobs data added to the case for a steady interest rate outlook, while the New Zealand dollar climbed to a 2-1/2-year high following another upbeat economic report. The Aussie leapt more than half a cent to $0.9440, its highest since late November, before easing back to $0.9410. It was still sharply higher for the week to show a gain of 1.3 percent.
It also rose against the yen, euro and pound, and even on its feisty kiwi neighbour. It touched a near five-month peak of 71.7 against a basket of currencies. Across the Tasman sea, the New Zealand dollar soared to a 2-1/2-year high of $0.8746 on expectations that the kiwi's rate advantage against the greenback will grow as New Zealand interest rates rise while the Fed takes it time in hiking after it ends its asset-buying programme.
The kiwi gained broadly, jumping to a session high around 89.20 yen , roughly 1 percent higher from a low hit in offshore trade. This pushed the kiwi higher against a currency basket, with its trade-weighted index matching a post-float high of 81.03 according to Reuters data.

Copyright Reuters, 2014

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