LONDON, Aug 14 (Reuters) - The New Zealand dollar rose more than one percent against the U.S. dollar on Friday, reaching the highest level this year at $0.6888 as world stocks hit 10-month highs for a second day running, underpinning appetite for riskier assets.
The rise came after New Zealand's retail sales rose for the first time in nearly two years in the June quarter and the housing market showed more signs of stabilising, backing views of a gradual recovery and that rates will remain on hold in the coming months. [ID:nWEL433680]
At 1200 GMT, the kiwi was at $0.6874, up 1.3 percent on the day. (Reporting by Tamawa Desai and Ian Chua)
