The New Zealand dollar is slightly weaker against the currencies of the country's major trading partners.
ANZ Bank foreign exchange strategist Sam Tuck said the dollar had retreated to more realistic levels and was likely to keep edging down for the rest of the week.
"The New Zealand dollar has started the week on the back foot. We think demand for the New Zealand dollar last week unnaturally supported the New Zealand dollar, freeing it up this week to ease in line with what we observed against the Australian dollar and the Canadian dollar last week," he said.
"So we're expecting this week the Kiwi to remain under pressure against the US. Whether the trend continues will depend on the outlook for the US dollar, and it's a bit light this week so I can't imagine that the move will be too large this week."
Just after 5pm, the New Zealand dollar was buying: 87.21 US cents, 93.14 Australian cents, 50.88 pence, 0.642 euro, 89.04 yen and 5.41 renminbi.
Shares little changed
New Zealand shares were little changed, the NZX Top 50 Index declining 3 points to 5186.
All up, 23.3 million shares worth $83.4 million were traded.
Forsyth Barr investment adviser Dave Schaper said it had been a quiet day, with Mainfreight the standout decliner, with shares falling 42 cents to $14.43.
"No specific reasons. If you have a look at Mainfreight, they have been very strong and it's been a good lift for the last year at the very least, and they did have a big pickup," Mr Schaper said.
"So now, today, I think giving up a little bit of ground."
However, many of the shares in the bigger companies held their ground, with Ryman Healthcare shares rising 7 cents to $8.67 and shares in Port of Tauranga up 14 cents to $15.80.