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NZ dollar vs US dollar -
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The Kiwi dollar traded at its highest level for the year on Tuesday morning against the US dollar, at one point hitting 66.86 US cents.
The rise comes after the US dollar fell to its lowest point for the year during the weekend, with investors turning their back on the greenback in favour of stocks and so called commodity based currencies.
Market analyst Peter McIntyre says the Kiwi dollar is also being dragged up by the Australian dollar as riskier currencies remain in favour.
"It looks likely the dollar could go higher from here," he says.
The increase will concern the Reserve Bank which last week warned that the high Kiwi dollar was threatening to derail New Zealand's economic recovery by curbing export profits.
However, the higher Kiwi dollar will be welcomed by motorists as crude oil is up strongly and on Tuesday morning was well over $US70 a barrel.
