The kiwi traded at 86.67 US cents at 5pm in Wellington, having reached as high as 86.99 cents, from 86.82 cents at 8am.
The trade weighted index weakened to 80.68 from 80.83 at 8am.
Reserve Bank governor Graeme Wheeler hiked rates a further 25 basis points to 3.25 per cent on Thursday in a bid to keep a lid on inflationary pressures.
The governor affirmed the pace and rate for future hikes, surprising some in the market who thought Mr Wheeler might soften the tightening cycle in the face of lower milk prices weakening economic growth.
“It’s been a bit of a consolidating day after fun and games with the RBNZ. The kiwi will remain elevated because of our interest rate track and our expectations of further rate rises,” said Stuart Ive, senior adviser at OMF.
“Obviously there will be bumps along the way, against the US in particular we will begin to struggle as we see the US economy start to gain a bit of momentum.”
The kiwi slipped to 91.98 Australian cents from 92.14 cents on Friday morning, and 92.22 on Thursday at 5pm.
The currency drifted to 88.31 yen from 88.28 yen and 88.29 yen on Thursday and eased to 63.91 euro cents from 64.01 cents at 8am.
Satirical Toon by Mark Winter, an award-winning New Zealand cartoonist, designer and film maker and his pen name, Chicane, signifies a deceptive bend. He is currently living in London. Mark is always available to take commissions for artwork, caricature, cartoons or illustration projects. If you would like to discuss this further please get in touch on Twitter (@ChicanePictures) or at www.chicanepictures.com