payrolls number was an aberration rather than a trend change," said ANZ New Zealand chief economist Cameron Bagrie and senior FX strategist Sam Tuck, in a note.
The New Zealand dollar traded at 98.05 Australian cents from 98.04 cents at 5pm yesterday, after the RBA unexpectedly kept its cash rate at 2.25 per cent while saying further easing may be appropriate. Following the RBA statement, cash rate futures were pricing in a 76 per cent chance of a cut in May.
"It's a party we view as being put on ice as opposed to cancelled," ANZ said. "The more relevant question then is, what is to stop it from hitting 1.05? Once a psychological parity barrier is met, it is no longer such a "big deal".
The kiwi rose to 69.28 euro cents from 68.99 cents after the euro area composite PMI for March was revised down to 54.2 from 54.3 and ahead of a deadline at the end of the week for Greece to pay 450 million euros owed to the international Monetary Fund.
The kiwi was little changed at 90.14 yen and 50.57 British pence.
