The New Zealand dollar enjoyed a healthy day's trading alongside a strengthening aussie yesterday.
The kiwi poked its head above the 41USc mark, closing at 41.14c compared with 40.88c on Thursday. It was expected to maintain this level over the weekend.
"It's Friday afternoon, the market's been sold off the last three or four weeks, so I think we're consolidating quite well now," one dealer said.
It was also a good day for the Australian dollar, which was gathering strength on its own merits, as the euro was under pressure from mergers and acquisitions buying sterling.
The aussie rose from 49.90USc at Thursday's close to 50.12c yesterday.
Dealers said the demand was not thought to be related to this week's interest rate cut by the Reserve Bank of Australia, which had been largely priced in.
- NZPA
<i>Currency:</i> Kiwi tops 41USc
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