26.06.201404:55:27UTC+00New Zealand dollar advances to record highs

The New Zealand dollar ascended to a record high on its trade weighted index following dissatisfactory growth data fret backup for the US dollar but dealers were wondering if the Reserve Bank of New Zealand would push the kiwi lower.

The kiwi was at 81.42 at 5:00 p.m., up from 80.80 yesterday and outmatching its 81.29 hit this month. It was at 87.56 US cents at 5:00 p.m. in Wellington, previously 86.78 cents.

"Overall we've seen a general weakness in the US dollar stir buying in the kiwi. Investors are feeling a little bit more confident that the US aren't going to start raising interest rates as early as some were expecting, which was still next year," said Dan Bell, Head of Corporate Sales at HiFX.

The New Zealand dollar accelerated to 93.16 Australian cents, previously 92.68 cents, gaining 64.25 euro cents from 63.76 cents, climbing to 51.56 British pence from 51.12 pence. It also leaped to ¥89.12, previously ¥88.42.