Currency concerns continue to dominate global markets after a "toothless" International Monetary Fund failed at the weekend to get agreement on easing currency tensions.
The mood now is clearly for a further decline in the United States dollar as it slid yesterday to a 15-year low against the yen.
At the same time, expectations rose that the Federal Reserve will soon start printing more money.
Craigs Investment Partners broker Chris Timms said that for New Zealanders, the most interesting thing would be when the Australian dollar reached parity with the US currency.
"We are weakening against the Aussie and strengthening slightly against the US.
"Soon, it won't matter whether we buy US or the Aussie - they will be worth the same."
Looking back only a few years, the gap was much wider, he said.
On October 13, 2000, the NZ dollar was worth A75.75c.
Yesterday, it was trading at A76.56.
The peak in the last 10 years was on December 2, 2005, when the kiwi was worth A95.25c.
On October 13, 2000, the kiwi was worth US39.88c.
Yesterday, it was trading at US75.62.
At its peak on March 14, 2008, the kiwi was trading at US81.26.
All figures were based on weekly averages over a 10-year period.
"In the 10 years, the US economy has gone from being very, very strong and now they are printing money to keep afloat.
"There doesn't seem to be anything on the horizon to stop the US dollar from getting weaker," Mr Timms said.
The Australian dollar briefly went above US99c again yesterday.
Australian Federal Treasurer Wayne Swann suggested the Government was not concerned about the high currency.
Instead, it was viewed as a sign of a strong economy.
ANZ-National Bank chief economist Cameron Bagrie said discussions of "currency wars" had become more prevalent.
Competitive devaluation seemed an easy path to help generate stronger export growth.
"Already the markets have recognised how toothless the IMF can be ... and continued to sell the US dollar."
New Zealand could not compete, let alone win, in the competitive devaluation stakes, he said.
