The New Zealand dollar went back to work after Christmas with a will, closing not far off half a US cent higher yesterday, although amid typically quiet trade.
It finished at 44.29USc (43.87c on Friday), having spent the day in a narrow 44.20-31c range.
A currency dealer said the kiwi benefited from an active aussie unit, with the familiar chain reaction taking place of a firmer euro flowing through to the aussie and that currency pulling the kiwi up with it.
The dealer said Americans bought the New Zealand dollar early then locals sold. "We're closing a bit big, however."
The aussie ended locally at 55.89USc from 55.64c on Friday.
- NZPA
<i>Currency:</i> Kiwi bursts through 44USc
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