The budget cause barely a blink in trading in the New Zealand dollar as traders yawned in response to the no surprises document.
"The kiwi decided to decline the opportunity to respond to the budget," said John Body, head of markets for ANZ Bank.
"There was nothing surprising, nothing inthe forecasts, really nothing for financial markets to grasp on to," he said.
The kiwi closed on US62.25c, virtually unchanged from its opening but down half a cent from yesterday's close.
Mr Body said global equity and bond markets were looking a little wobbly while the US dollar was reversing from previous weakness.
"Kiwi continues to look vulnerable. We are firmly of the view that it will track between US61.5c to US63.5c over the next month or so, but the next move in the kiwi is lower as tight monetary conditions bite into economic growth."
He said the $2.5 billion bond programme was spot on expectations.
The US dollar pared some gains in Tokyo trading after shooting higher on European officials suggested the euro's rapid rise in the past month could stymie economic growth in the region.
"Exporters have been having a difficult time with yen strength, so they are eager to sell whenever the dollar rises," said Nobuaki Kubo, forex planning manager at Resona Bank in Tokyo.
Some traders said the US currency was supported by the possibility that the Federal Reserve could raise interest rates at its next meeting after data showed consumer prices climbed in April at a faster pace than expected.
The New Zealand dollar trade-weighted index finished on 61.74 from 61.82 yesterday. The kiwi ended higher against the Australian currency at A81.89c from A81.64c yesterday afternoon.
Meanwhile, the aussie finished on US76.06c from US76.89c yesterday.
