The New Zealand dollar rose almost two cents against its US counterpart overnight after the world's biggest central banks sprung into action to help shield the eurozone from the debt crisis.
The US Federal Reserve, the European Central Bank, the Bank of England and the central banks of Canada, Japan and Switzerland have all agreed to make it cheaper for banks to buy US dollars.
They hope that will ultimately help businesses and households access finance more easily.
Westpac markets strategist Imre Speizer says the central banks' moves improved appetite for riskier currencies like the New Zealand dollar.
He says it was a fairly powerful statement and may well be the first of more such announcements to come over the next few weeks.
Mr Speizer says China's decision to cut the limit on the amount of cash its banks have to hold in reserve and strong US employment data also helped to drive up the New Zealand dollar.
