While there was positive manufacturing data from Germany, the US, United Kingdom and China, the greenback weakened and several currencies gained strength.
The New Zealand dollar hit US83.53c yesterday, its highest since early-September, while against the euro it briefly hit 63.32, the highest it has been since the common European currency was introduced in 2001.
Craigs Investment Partners broker Peter McIntyre said while unexpected positive manufacturing data had been released by several countries, it meant more risk-taking, and that "carry trade" by investors would increase, which weakened the US dollar.
"This is not the sort of news exporters want to hear," Mr McIntyre said.
The kiwi hit a high against the greenback on July 26 last year, at US87.08c.
Similarly, the Australian dollar has risen from less than US100c in December to US102c last month and US107.48c yesterday, a three-month high, after the release of very strong export data for December, AAP reported.
The Australian Bureau of Statistics yesterday released international trade figures for December, which showed a rise in the surplus to $A1.709 billion ($NZ2.19 billion).
Total exports rose 2% to $A27.7 billion, the second highest level on record, while imports were also up 1%.
Mr McIntyre said with US interest rates expected to be held at 0.18% until 2014, US investors would look overseas, and in other currencies, for better rates.
The kiwi would have received a "further push" after release yesterday of the ANZ commodity price index, which posted its first monthly gain in eight months, Mr McIntyre said.
The New Zealand dollar rose to A77.66c from A77.54c the day before and gained to 63.42 yen from 62.73. The kiwi gained to 52.56 British pence from 52.25p.
Investors regained confidence in the global economic recovery amid recent volatility over the past few months after manufacturing data in the US, Europe and China all proved better than expected, The New Zealand Herald reported.
Manufacturing expanded at the fastest pace since June in the US, the Institute for Supply Management's (ISM) index rising to 54.1 in January from 53.1 in December, the ISM said.
Germany posted its first increase in manufacturing output in four months, while in the United Kingdom growth in manufacturing climbed to an eight-month high.
Yesterday, figures showed Chinese manufacturing unexpectedly expanded last month.
"It all started with the positive news yesterday out of China. It was a fairly positive horizon after that," Alex Sinton, senior dealer at ANZ New Zealand, said.
"That created a fair amount of demand for our currency."
Mr Sinton said the kiwi would probably "struggle to push higher on the day", though the outlook is "fairly positive".
