The New Zealand dollar closed on its highs in light trade, with support from its Australian cousin.
The kiwi finished at US41.50c from US41.20c.
"We are poised to test higher," a currency dealer said.
Short-term sentiment was positive for the kiwi, he said, and another commentator picked a test of US42c this week if the euro lifted above US88c.
But the main game remains picking the pressure point that will trigger further intervention in the euro.
The dealer said the jury was still out on the euro, which had failed to kick on after combined central bank intervention over the weekend.
"I don't think personally the central banks are looking to get an immediate turnaround in the fortunes of the euro, but rather I guess they are signalling that they're not happy with the speed at which it was declining."
The euro ended here at US87.41c.
Preliminary August trade figures came in bang on expectation so the kiwi did not react. The market is now looking to Friday's June quarter gross domestic product numbers. The dealer said the currency would react to anything outside a 0.2 to 0.7 per cent contraction for the quarter.
- NZPA
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