The New Zealand dollar, followed by its Australian counterpart, fell for the second day on fears that the swine flu may deepen the global slump, affecting tourism and high-yielding assets.

The New Zealand and the Australian dollar went up as rumors about a credit market recover spread amid investors this Thursday.

Speculations that U.S. banks losses may increase moved the Australian dollar to a level very close to the lowest in 3 weeks.

The kiwi had its worst week in a two-month period against the yen as slumping growth in China indicates that the recession is far from its ending.

The currencies of Australia and New Zealand advanced against the Japanese yen and the U.S. dollar on the Forex market today as the traders clearly favored risk-ridden high-yielding assets despite the mixed stock trading session results in Asia.

The New Zealand dollar rose to the highest level since early January 2009 today, backed by the support from the continuously growing emerging and developed stock markets.

The Australian dollar reached the new monthly maximum the Japanese yen as the stock markets signaled growth for a third day on improved earnings of the banks.

The New Zealand dollar propelled to the monthly high against the U.S. dollar today, rising for the second day, as the stock marked continued to grow globally, improving the appeal of the higher yielding currencies.

The New Zealand dollar went up against all other major currencies today as the country’s jobless report wasn’t as bad as some traders expected and the kiwi needed to correct after some of its greatest losses.

The New Zealand currency declined against the U.S. dollar, the yen and its Australian counterpart today after the country’s central bank decided to cut the interest rate to a record low amidst the raging recession.