The New Zealand dollar finished the week at a three and a half year high on the trade weighted index, of 73.17.
The kiwi was last at this level at the end of February 2008. It's all-time post-float high was 76.88 in July 2007.
It ended the week against the US dollar at NZ$1 = US$0.8465, against the Yen at NZ$1 = JPY66.905.
Against the faltering Aussie dollar, it ended at NZ$1 = AU$0.7949 its highest close since August 2010.
Against the two key European currencies, it was strong as well. It ended against the euro at NZ$1 = EU0.5983 which was more than a five year high, last seen in December 2005. Against the British pound it finished at NZ$1 = UKP0.5246 very near its all-time post-float high set just two days ago.
The US debt-ceiling debate drags on, with the chief bond vigilante claiming some US lawmakers don't "get it' when understanding the seriousness of the long-term implications for a default.
The latest EU bank stress tests showed that nine of 91 banks failed (mainly in Spain), and a futher sixteen were near-misses. But the rigour of the tests themselves have come under fire. It is likely these stress tests solved nothing.
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