11:45 AM
It has been all quiet on the foreign exchange markets this morning but that may change during the week.
The markets are playing a waiting game following last week's torrid time for the Kiwi, when it fell to post-float lows.
Just before midday, the dollar was buying 43.49 US cents, about a cent up on last week's lows.
BNZ chief economist Tony Alexander says this morning's inactivity can be put down to the fact that overseas markets are still enjoying the weekend.
He says it has been the foreign investors who have been the big sellers in recent months, and predicts there will be more action as the week moves on.
He says people are going to be looking to see if the New Zealand dollar is now cheap, and that maybe some of our assets offer good buying opportunities.
Tony Alexander says it is difficult to forecast what the dollar will do in the short term.
- IRN
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