The New Zealand dollar was slightly weaker on Thursday against most of the country's major trading partners.
A foreign exchange strategist at ANZ Bank, Sam Tuck, says after a quiet night, the Kiwi was sold in Asian markets on Thursday and further weakness is expected.
"We've broken below the 87 cents barrier and are currently sitting at 86.86, and this is below the lows we reached yesterday.
"This is despite slightly better domestic data - we had stronger ANZ consumer confidence and an improvement in job advertisements.
"But the general sentiment out there remains focussed on yesterday with the decline in dairy prices and the weaker than expected quarter CPI (Consumer Price Index)."
At 5.40pm on Thursday, the Kiwi was trading at 86.92 US cents, 92.79 Australian cents, 50.71 British pence, 0.6425 euro, 88.19 yen and 5.39 renminbi.
New Zealand shares were little changed on Thursday, the benchmark Top 50 Index easing 2 points to 5112.
The Head of Wealth Research at Craigs Investment Partners, Mark Lister, says the local market failed to take positive leads from offshore.
"We've had a reasonably flat day today - there were some good offshore leads that came out of the US the Uk and Europe - most of those markets up quite strongly."
He said in contrast, the New Zealand market had "gone sideways"
"The tone is just a little bit cautious following yesterday's dairy auction news which obviously had dairy prices falling more than people thought, and also the inflation report which was a little bit lower than people expected, too."
Mr Lister said people were digesting that information and also looking ahead to next week when the Reserve Bank was expected to increase interest rates.
Good news for Port of Tauranga
Among rising stocks, Port of Tauranga continued to gain, rising 25 cents to $15.75.
On Wednesday, the port said the Maersk Shipping Line was shifting its Southern Star service back to Tauranga just a year after moving it to Ports of Auckland.
Port of Tauranga said it expected that would lead to an increase of about 70,000 20-foot-equivalent containers going through its facilities each year.
In the six months ended December, the Tauranga port handled just over 381,000 containers.
Energy Mad shares were unchanged at 18.5 cents after shareholders were told the company had failed to deliver profits - it lost $5.7 million last year.
