The New Zealand dollar has held at six-month lows ahead of trade data which could put the local currency under further pressure.
The kiwi was little changed at 83.41 US cents at 8am in Wellington, from 83.45 cents at 5pm a day earlier. The trade-weighted index edged lower to 78.75 from 78.78.
The New Zealand dollar fell sharply on Monday amid US dollar strength as investors bet an improving US labour market may prompt the Federal Reserve to raise interest rates sooner than previously expected.
The kiwi is now back at levels last seen before the Reserve Bank began raising interest rates in March, as expectations for economic growth are pulled back following lower prices for commodity exports.
July trade data out on Tuesday is likely to reflect the slump in dairy prices and put further pressure on kiwi, analysts said.
"The New Zealand dollar was the weakest performing currency at the start of the week," Kymberly Martin, senior market strategist at BNZ.
"The New Zealand trade balance is not likely to do too much to support the New Zealand dollar."
BNZ expects the trade balance to turn to a $979 million deficit in July from a $247 million surplus in June.
The New Zealand dollar rose to 89.71 Australian cents from 89.55 cents, after touching 89.48 cents, its lowest level since early December last year.
The kiwi was little changed at 63.21 euro cents from 63.18 cents, was at 50.30 British pence from 50.37 pence and slipped to 86.73 yen from 86.97 yen.
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