During early deals on Monday, the New Zealand dollar rose to a 3-month high against the European currency. The kiwi also climbed to a 6-day high against the US dollar and the Japanese yen.

Against the US dollar, the New Zealand currency gained ground after hitting a low of 0.5835 during early Asian deals on Monday. At 11:35 pm Eastern Time, the kiwi-dollar pair reached a 6-day high of 0.5868, compared to Thursday's closing value of 0.5834. If the pair gains further, 0.597 is seen as the next target level.

The New Zealand dollar that closed Thursday's North American session at 2.2620 against the European currency rose to 2.2456 at 11:35 pm ET. This set a highest point for the kiwi since January 13, 2009. On the upside, 2.207 is seen as the next target level.

The New Zealand currency that touched a low of 58.52 against the Japanese yen during Monday's early Asian deals strengthened thereafter. At 11:35 pm ET, the kiwi-yen pair climbed to a 6-day high of 58.88, compared to 58.54 hit late New York Thursday. The pair is currently trading at 58.81 with 63.8 seen as the next target level.

The yen fell today as the Japanese stock market traded higher following the announcement of the third stimulus plan by the Japanese Prime Minister Taro Aso on Friday.

On the economic front, a report released by the Bank of Japan showed that Japan's corporate goods prices index or the producer price index fell 0.2% month-over-month in March, in line with the expectations. During February, the index declined 0.5%. Producer prices have been seeing a declining trend since September 2008.

The New Zealand dollar that closed Thursday's New York deals at 1.2359 edged higher to 1.2326 during today's early Asian deals. The aussie-kiwi pair is now worth 1.2354.

There are no important economic reports scheduled to be released from Europe and North America.

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