United Stocks gained after a report by AFP that China has agreed to invest in Europe's bailout fund but Bloomberg reported that talks with banks on bondholder losses as part of a second Greek bailout were deadlocked.
German Chancellor Angela Merkel also continued to manage expectations lower.
Sinton said a lot also depended on the political situation in Italy.
He expected Reserve Bank governor Alan Bollard to comment on the uncertainties in the global economic situation at the official cash review.
Bollard is expected to keep the official cash rate at a record-low 2.5 per cent.
A soft consumer price index figure on Tuesday quashed fears inflation was creeping into the economy.
Bollard was forced to hold off removing the extra stimulus he added in March in response to the Christchurch earthquake after global financial markets slumped amid heightened fears of a second worldwide recession.
"There's no need to rush for the RBNZ," said Chris Tennent-Brown, FX economist at Commonwealth Bank of Australia in Sydney. "The fundamentals suggest the New Zealand dollar should up above 80 US cents" but investor sentiment out of Europe is driving it around at the moment, he said.
Until something concrete comes out of the Group of 20 Nations' summit on the weekend, sentiment will continue to drive currency markets, Tennent-Brown said.
The kiwi was lower at 76.51 Australian cents from 76.78 cents yesterday.
It was little changed at 60.54 yen from 60.52 yen and was unchanged at 57.18 euro cents. It rose to 49.78 British pence from 49.68 pence yesterday.
The trade-weighted index fell to 69.52 from 69.18.
