It's been on a steady decline, it certainly bodes well for the U.S. dollar and obviously that feeds into the interest rate story.

Obviously, this is a continuation of dollar woes.

This hasn't changed our view that the New Zealand dollar is in a serial decline. The currency is on a depreciation cycle, regardless of whether interest rates go down or not.

Certainly I don't condone his comments,

New Zealand is one quarter away from recession. The New Zealand dollar is firmly embedded in a long-term decline.

The numbers were obviously better than expected. It's possible we could see a little further dollar buying.