KEY POINTS:
The New Zealand dollar pulled back from Thursday's three-week highs against the greenback - near US77.60c - but ended the week well above US77c, closing on US77.35c.
ANZ bank said a brief dip overnight by the NZ dollar had found plenty of European buyers looking to achieve higher yields.
The kiwi had managed to weather lower business confidence and falling dwelling consents data which came out yesterday, ANZ said.
Against the Australian dollar, the kiwi eased to A87.02c.
ANZ said that after rising 6 per cent against the Australian currency during November, the NZ dollar would struggle to add to its gains.
The trade weighted index rose to 71.07 from 70.79 yesterday.
Next week's focus will be on the Reserve Bank's quarterly monetary policy statement where it is expected to keep interest rates on hold and signal it will keep them there in coming months because of persistent inflation concerns.
Governor Alan Bollard will take note of the uncertainty in the global economy, but his focus will remain on inflation, which is expected to push up towards the upper band of its target range, analysts say.
The US dollar drifted against the euro and yen after comments by Federal Reserve chairman Ben Bernanke cemented views about further interest rate cuts.
Expectations of a Fed rate cut this month and of more to come had strengthened after Fed vice-chairman Donald Kohn said that renewed financial market turmoil could slow the economy more abruptly than thought.
- NZPA
