$A higher hits week high THE Australian dollar has risen to its highest point in a week as commodity prices and share markets rally. At 1200 AEST on Friday, the local unit was trading at 103.30 US cents, up from 102.46 cents on Wednesday. Easy Forex senior currency dealer Francisco Solar said optimistic investors were chasing high yielding risk assets like the Australian dollar and equities. The was little fresh news overnight to warrant any major move but if you look at commodity prices, gold is at a level not seen since April 15. "That is always going to help a commodity currency like the Aussie dollar."peHowever, the Australian dollar has fallen to its lowest level in two years against the kiwi after the Reserve Bank of New Zealand (RBNZ) kept its cash rate unchanged at 2.5 per cent on Tuesday. In a statement accompanying the decision, RBNZ governor Graeme Wheeler reiterated that the bank did not anticipate a rate change this year. "The RBNZ meeting early this week has nicely helped kiwi dollar strength," he said. It's held on to most of its gains this week. The key event for markets on Friday is the Bank of Japan meeting and monetary policy announcement, which is due late afternoon (Australian time). "That's probably where the Aussie dollar will take its cue from for the rest of the session," Mr Solar said. Meanwhile, the Australian bond market was weaker at noon. At 1200 AEST on Friday, the June 10-year bond futures contract was trading at 96.825 (implying a yield of 3.175 per cent), down from 96.850 (3.150 per cent) on Wednesday. The June three-year bond futures contract was at 97.390 (2.610 per cent), down from 97.410 (2.590 per cent).At 0700 AEST on Friday, the local unit was trading at 102.90 US cents, UP from 102.46 cents on Wednesday.