The New Zealand dollar fell against the currencies of all the country's major trading partners on Thursday except the Australian dollar after weaker-than-expected Australian jobs figures.
Bancorp Treasury Services client advisor Peter Cavanaugh says it was a case of the Australian dollar falling and dragging the Kiwi down with it.
He says the Australian dollar weakened after disappointingly weak employment data, and even though Australia added a small number of new jobs in October, nearly 28,000 full-time jobs were lost.
Mr Cavanaugh says the unemployment rate went up and the participation rate went down which was a disappointing combination for those expecting the Reserve Bank to remain on hold in Australia.
He says it renewed the debate about whether the Reserve Bank of Australia will implement any more interest rate cuts.
At about 5pm on Thursday, the New Zealand dollar was trading at 83.53 US cents, down nearly a third of a cent from Wednesday, at 51.95 British pence, at 0.618 euro and 82.38 yen.
It was flat against the Australian dollar at 88.17 cents.
