The Australian dollar was trapped near a four-week low on the euro on Friday following a vicious offshore rally in the single currency which lifted it across the board. The euro hit hard the Aussie, with the single currency hovering around A$1.3386 on Friday, just off a four-week high of A$1.3409 in offshore trading. That was a marked turnaround from a record low of A$1.2918 seen on Monday and a rise of 3 percent for the week.
The euro also regained some ground on the kiwi, rising more than 2 percent this week. It stood at NZ$1.7300 on Friday, from a five-year low on Monday of NZ$1.6913. The Aussie held firm against a weaker U.S dollar, hovering around $0.9964 in very thin trade on Friday, having touched an 8-day high of $1.0021 in the offshore session. The kiwi dollar steadily gained through the local session to a 10-day high of $0.7728, before settling around $0.7698 in late trade.