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Old 16-04-2007, 04:56 PM
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Sorry, Mark, doesn't look like there's going to be much change in the short term, for the better, anyway.

NZ dollar tops US74c for first time in two years
Updated 2:02PM Monday April 16, 2007

The New Zealand dollar has topped US74c for the first time in two years and seems headed for a post-float high, with economists predicting even higher levels ahead.

The kiwi crossed through the US74c level shortly after 10am today and by 10.30am was around US74.10c, a cent higher than its level of Friday morning.

The last time the NZ currency was this high against its US counterpart was in March 2005, 20 years after the kiwi was floated in March 1985.

That time it got to US74.63c, its highest level in 23 years.

The NZ dollar has also performed strongly against the Japanese yen, hitting its highest point against the Japanese currency since 1990, and around 10.30am was above 88.60 yen to the kiwi.

On Friday the kiwi was boosted by stronger than expected retail sales data, and since has received further backing from a communique released after a meeting of the Group of Seven countries.

More here .
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