"The NZD/USD remained in its new, lower range overnight," said Sharon Zollner, senior economist at ANZ Bank New Zealand. "It still looks vulnerable to the downside as global risk sentiment remains shaky, although market positioning could make moves lower a struggle."
German chancellor Angela Merkel said she would prefer new elections than to persist with a minority government. Also weighing on the euro overnight, European Central Bank president Mario Draghi flagged the likelihood of eurozone interest rates staying low for longer given the tepid level of inflation.
The trade-weighted index was little changed at 72.25 from 72.27 yesterday. The kiwi traded at 90.19 Australian cents from 90.15 cents and at 51.45 British pence from 51.59 pence. The local currency traded at 4.5124 yuan from 4.5186 yuan and rose to 76.68 yen from 76.29 yen.
