The New Zealand dollar finished the week on a positive note, maintaining an overnight rally above 45USc throughout the day, although volume was light.
The kiwi traded at 45.05c about 5 pm, almost returning to where it started the day at 45.15c.
The quiet market will last until Tuesday night at least as the US has a market holiday on Monday.
An ANZ Investment Bank foreign exchange senior manager, Richard Marshall, said the only real movement was some buying of the aussie against the kiwi in the afternoon.
"We saw a little bit of late buying from Asia and late US names were buying as well, but it's actually ending on a slightly lower note," Mr Marshall said.
"At some stage I would expect kiwi to test a little higher overnight. It's still very strong against the aussie but it has come back a little bit. Certainly the bigger picture is very strong."
Dealers said the kiwi was likely to outperform the aussie over the next few months, rising as high as 83Ac.
One dealer said New Zealand was benefiting from being at a different stage in the economic cycle to Australia, with a stronger growth outlook and the prospect of higher interest rates as Australia moves to ease rates in the face of a slowing economy.
"The Reserve Bank of Australia is much more likely to cut interest rates before New Zealand, which would tend to support the cross rate in favour of the kiwi for the time being," the dealer said.
- NZPA
<i>Currency:</i> Kiwi tops 45USc in thin trade
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