The New Zealand dollar was down against the greenback today, and slipped against the euro after hitting a new high against the currency overnight.
It shot up to 64.21 euro cents overnight, the highest level seen since the European currency launched in 1999.
The kiwi recently traded at US80.23c, down from US80.35c in the morning. It was at 64.06 euro cents, down from 64.15 euro cents in the morning. On the Trade Weighted Index against major trading partners' currencies, it was at 72.50,
ASB economist Christina Leung said the kiwi had a quiet day after the Australian trade deficit, at $285m, was wider than expected.
"Straight after that we saw the Australian dollar move from US1.027c to US1.028c, so it was pretty muted which is no surprise. The New Zealand dollar rose against the aussie in response," Leung said.
The kiwi was at 78.20 Australian cents, up from A78.16c earlier.
"Markets are still headline watching with a degree of caution, but overall today there was not anything major to give the New Zealand dollar much direction. Coming up we have the European Central Bank and Bank of England's rate announcements which will be interesting given markets are gearing up for further action from those."
The Bank of England is expected to announce further quantitative easing, and some economists expect the European Central Bank to cut 25 basis points from its benchmark interest rate.
The kiwi recently traded at 51.44 pence, down from 51.52 pence in the morning. It was at 64.02 Japanese yen, down from 64.15 yen earlier.
Leung expected the kiwi to trade between US79.50c and US80.60c overnight.
- © Fairfax NZ News