There aren't a lot of potential drivers on the immediate horizon either, Shirley says.
One potential market mover is that Reserve Bank of Australia Philip Lowe is scheduled to give a speech on Thursday on inflation targeting and economic welfare.
Given recent history, "you can't discount any central bank speech – it could be a short-term game-changer," Shirley says.
Last week, the New York Federal Reserve President John Williams managed to roil markets when he said that central banks should act quickly to lower rates at the first sign of economic distress.
His words were widely interpreted as a signal that the Federal Open Market Committee will slash interest rates at its next meeting on July 31.
But the New York Fed later clarified that Williams was talking about 20 years of academic research and wasn't intending any messaging about the upcoming FOMC meeting.
The New Zealand dollar was trading at 54.18 British pence from 54.02, at 96.22 Australian cents from 95.97, at 60.39 euro cents from 60.29, at 73.11 yen from 72.86, and at 4.6589 Chinese yuan from 4.6531.
The New Zealand two-year swap rate edged down to 1.3166 percent from 1.3248 on Friday while the 10-year swap rate fell to 1.7575 percent from 1.7600.