The New Zealand dollar is at a seven-month high, as investors bail out of the US dollar due to fears about government debt levels.
The kiwi topped 61.33 US cents on Friday morning - its highest level since October - as the US dollar hit its lowest point this year on Thursday.
The catalyst was an announcement by credit rating agency, Standard & Poors that it may downgrade Britain's credit rating due to high debt levels.
At 12.30pm on Friday, the dollar was trading at 61.5 US cents, 78.88 Australian cents, 38.73 pence, 57.83 yen and 0.4411 euro. The Trade Weighted Index was at 58.5.