Exchange rate

A weakened United States dollar underpinned the New Zealand's dollar reaching a post-float high of US85.06c yesterday, which followed hard on the heels of global spot gold prices also topping a record $US1584 ($NZ1867) per ounce overseas.

The New Zealand dollar today jumped to its highest exchange rate against the greenback since it was floated in March 1985, and reached US83.18c just after 3pm.

Its previous post-float high of US83.01c was notched up last Friday night.

The New Zealand dollar consolidated above US79c today and rose against a euro weakened by worries about European sovereign debt.

The New Zealand dollar rose against the Australian dollar today when it came under pressure in the wake of weaker than expected retail sales data.

Further weakening of the US dollar yesterday was reflected in record spot gold prices around the world and the Australian dollar almost reaching parity with the greenback.

The New Zealand dollar slipped across a range of currencies, as investors again lost their appetite for risk.

The New Zealand dollar drifted slightly lower today after pushing up to its highest level in more than a week against major currencies during the weekend on hopes for a firmer global economic recovery.

The New Zealand dollar headed into the weekend around its best level since late June as the Australian dollar held near two-week highs in the wake of strong employment data yesterday.

The New Zealand dollar jumped near the day's end on the back of a Reserve Bank of Australia decision to keep interest rates steady across the Tasman.

The New Zealand dollar fell to its lowest level in three weeks today but the Australian dollar got a lift late in the session from reports of a deal on the controversial mining tax.