The New Zealand dollar has reached another record against its Australian counterpart.
It has moved past a post-float high of 98 Australian cents for the first time.
The kiwi has traded as high as 98.43 against the Aussie; a short time ago it was trading at 98 cents.
Analysts said the New Zealand economy was performing much better than the Australian economy at the moment, and some believed the kiwi would eventually reach parity with the Australian dollar.
Wool prices have taken a bit more of a hammering from the exchange rate this week.
The pace of economic activity has eased slightly, but remains robust thanks to higher tourist and household spending.
The New Zealand dollar has continued to rise since the United States Federal Reserve early today signalled fewer interest rate hikes in the future.
The New Zealand dollar has dropped after a weaker result in the overnight dairy index.
The New Zealand dollar has jumped against its US counterpart after the Reserve Bank left the Official Cash Rate on hold at 3.5 percent.
for ad-free news and current affairs
