New Zealand dollar hits 17-month peak

16 Feb, 2013

The running hot New Zealand dollar shot to 17-month highs on the US dollar and struck a fresh record peak against sterling on Friday as more upbeat domestic data stoked talk that interest rates would have to rise eventually.
The kiwi leaped to $0.8534, its highest since September 2011, having gained nearly 2 percent this week. It vaulted to record heights against a depressed pound at NZ$1.8141, seven-year peaks on the Canadian dollar and stayed close to 2008-highs on the yen.
The kiwi was last at $0.8509 with resistance at $0.8572, the August 31 2011 high. Kiwi strength overshadowed its Aussie cousin which held firm against its US counterpart at $1.0364. The Australian dollar bounced from a four-month trough of $1.0227 on Tuesday and looked set to post a 0.4 percent increase for the week.

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