The New Zealand dollar is hovering near 75.5 US cents, with investors remaining cautious about Europe's debt woes.
The kiwi on Monday morning was tracking at 75.6 US cents, its lowest level in two months, after shedding more than 4% last week.
HiFX senior dealer Dan Bell said a landslide election win by the Popular Party in Spain should help calm financial markets, but the currency is likely to fall further because Europe's debt crisis remains unresolved.
