The New Zealand dollar gained as a stronger-than-expected Chinese trade surplus stoked investors' confidence the world's second-biggest economy has weathered a slowdown and can regain momentum.
The kiwi gained to 84 US cents at 5pm in Wellington from 83.82 cents at 9am and 83.81 cents on Wednesday.
The trade-weighted index climbed to 75.66 from 75.44.
China's trade surplus almost doubled to $US31.6 billion in December from the same month a year earlier on a 14 percent jump in exports and a six per cent increase in imports.
China is New Zealand's second-biggest trading partner.
New Zealand government figures on Thursday showed a slightly wider-than-expected local trade deficit of $700 million in November, while ANZ figures showed an increase in commodity prices last month.
"The kiwi data continues to be positive and China's recovery is starting to show evidence and today's trade data added to that," said Imre Speizer, market strategist at Westpac Banking Corp in Auckland.
"The kiwi will continue to outperform - look at economic fundamentals and they're pretty good, the outlook is pretty good and interest rates will eventually turn positive."
The kiwi fell to 79.61 Australian cents at 5pm from 79.85 cents on Wednesday after the Chinese trade data, with the bigger nation having greater export exposure to the world's most populous country.
The New Zealand dollar climbed as high 74.08 yen, the highest level since September 2008, and traded at 73.93 yen at 5pm from 73.28 yen on Wednesday.
Japan's currency weakened after Prime Minister Shinzo Abe urged the central bank to double its inflation target to two percent.
The kiwi gained to 64.34 euro cents from 64.08 cents ahead of the European Central Bank's monetary policy review.
NZN
Source: http://www.3news.co.nz/Kiwi-rallies-on-Chinese-trade-surplus/tabid/421/articleID/282641/Default.aspx
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