New Zealand dollar near week high

The New Zealand dollar held near one-week highs on Friday as improved risk appetite buoyed demand for high-yielding currencies and as many investors took a view that the central bank was done with rate cutting. The New Zealand dollar settled around $0.6434/38 having hit a one-week high of $0.6468 in the offshore session.
The currency has gained as much as 3.2 percent after the Reserve Bank of New Zealand held its cash rate at record low 2.5 percent on Thursday and pledged to keep rates low for some time. "There's an underlying bid tone. Global risk sentiment keeps going and the Reserve Bank's rate pause gives another upward boost," said Westpac market strategist Imre Speizer.