The New Zealand dollar continues to climb, as investors remain cautious ahead of a week of uncertainties.
The kiwi reached 88 US cents in late trading on Friday, but has since slipped to 87.86 US cents.
At 8.22am on Monday, the dollar was trading at 87.96 US cents, 79.87 Australian cents, 53.54 pence, 67.45 yen and 0.6115 euro. The Trade Weighted Index was at 74.86.
Instability is feared when Asian financial markets open on Monday if there is still no deal in the United States on the federal debt limit.
Analysts say that if the US debt ceiling vote is not resolved by then, commodity currencies could come under further pressure.
Financial markets are also on edge after a disappointing Italian bond auction which resulted in the highest yields in 11 years.
