The New Zealand dollar ended strongly yesterday, boosted by some overseas interest.
At 5 pm, the kiwi was at 44.99USc from 44.62c at Thursday's close.
"Basically what happened is we started the day with a little bit of corporate selling which drove us down towards 44.60c, and we were sitting around 44.70c, just off the lows when a US clearer-type bank came through buying up the kiwi, did the rounds, paved the market," Deutsche Bank's Phillip Lindberg said.
"On a thin Friday afternoon it was enough to leave the market short all day, and from around lunchtime we have sort of ground higher to around 45c."
Mr Lindberg said he did not expect the run-up to last, however. "My feeling is it was a little bit overdone."
He expected the kiwi to trade between 44.60c to 45.10c overnight.
US non-farm payrolls set for release overnight could give the kiwi a bit of a boost, he said, but technical resistance around 45.20c would probably cap the kiwi's rise.
Reports that the Reserve Bank of Australia was likely to cut interest rates by 50 basis points next week was also putting a dampener on the Australasian currencies.
The kiwi continued its strong run against the Aussie, reaching 81.13Ac.
- NZPA
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