The New Zealand dollar strengthened after the Reserve Bank of New Zealand (RBNZ) maintained its key interest rate but hinted at future rate hikes due to stronger economic growth.
The kiwi currency rose to 78.12 US cents from 77.01 cents at 8am, reflecting investor confidence in the RBNZ's outlook.
The central bank's decision to keep rates unchanged was accompanied by a signal that further increases may be necessary as the economy expands at a faster pace.
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