The New Zealand dollar registered a rise late, after the Reserve Bank of New Zealand's statement emerged following the official cash rate review that triggered the currency to pare the gains it had incurred overnight in the run up to the event.

The NZ dollar registered a slip from about US72.30c touching US71.70c following the decision however, posted weakness for the remaining session. It was US71.66c at 5pm from US71.44c at the same time yesterday.

The New Zealand cash rate decision emerged following the United States Federal Reserve promise to keep the US rates at record low level at the same time as it witnessed to be more confident related to the US economy.

While the central bank did not altered the Official Cash Rate keeping it at 2.50% as was expected, most economists witness the marginal change to the accompanying statement as referring to the first rate hike introduction coming in June while leaving the central bank flexible to tweak its policy.

"As previously indicated, we expect to begin removing policy stimulus over the coming months, provided the economy continues to evolve as projected", Reserve Bank Governor Alan Bollard posted in a statement.