8 Sep 2009

Dollar hits one-year high in overnight trading

11:28 am on 8 September 2009

The New Zealand dollar has hit a one-year high against the US currrency, as overseas speculators drove up the kiwi in light trading.

The currency hit 69.35 US cents overnight on Monday, a peak last seen in early September 2008, before easing back slightly.

BNZ Capital currency strategist anica Hampton says the jump is a short term blip as financial markets await the Reserve Bank's decision on interest rates on Thursday.