The New Zealand dollar has weakened against the Australian dollar as improved business confidence and signs of a pickup in housing reduced the prospects of interest rates cuts across the Tasman.
The kiwi fell to 92.11 Australian cents at 5pm in Wellington, from 92.31 cents at the start of the day and down from 92.54 cents on Monday.
National Australia Bank's survey showed business confidence and conditions rose in January.
Meantime, Australian government figures showed a 9.3 per cent gain in house prices in the final quarter of 2013.
Australia's central bank this month changed its easing bias to neutral, signalling an end to rate cuts this cycle.
"The Australian data was pretty strong," said Michael Johnston, senior trader at HiFX.
"It made the market think there's little chance of any near term rate cut by the RBA and it has caused the Australian dollar to be squeezed up, dragging the kiwi along with it."
The kiwi rose to 82.96 US cents from 82.62 cents at 8am and from 82.75 cents on Monday.
The trade-weighted index was at 78.05, returning to the levels of late Monday.
