The kiwi was little changed at 84.15 US cents at 8am in Wellington from 84.13 cents at 5pm yesterday.
The New Zealand dollar is little changed ahead of merchandise trade data today and the central bank's review of the official cash rate tomorrow.
The kiwi recently traded at 79.98 US cents, from 79.96 cents at the 5pm market close in Wellington yesterday. The trade-weighted index weakened to 75.36 from
75.43 yesterday.
The Reserve Bank is expected to keep the benchmark interest rate at a record low 2.5 per cent tomorrow, and repeat that the local currency is still overvalued and the overheated housing market remains a concern.
"The RBNZ tomorrow should keep anybody from getting too excited about kiwi in terms of huge moves," said Sam Tuck, senior manager FX at ANZ New Zealand. "We don't really expect anything but nobody really ever wants to put a big position or make a big call ahead of something like that which has the potential, even though it's minor, to change things."
The Reserve Bank is less likely to make major announcements at the six weekly OCR, instead favouring its quarterly MPS reviews, Tuck said.
