The New Zealand dollar reached a two-month high against its US counterpart on Wednesday as investors become more confident about the global economic recovery.
The dollar was trading at 78 US cents at midday, having rising almost a cent against the US currency in the preceding 24 hours.
Westpac market strategist Imre Speizer says global investors have increased their appetite for riskier currencies like the Kiwi.
He says this is likely to be due to strong economic data from the US, Britain, the eurozone and China giving investors a sense that the economic recovery is taking hold.
