New Zealand dollar continued to test the lower end of the range against the greenback, as uncertainty throughout Europe and the looming impasse on budget cuts looking for U.S. investors selling to position their kiwi.
Kiwi dollar recently traded in US cents, down from 75.60 US 76.10 c on Friday in New York, and crashed into the trade weighted index 67.07 on major currencies trade partners of 67.40 before.
The demand for higher yield, or risky assets, continued to ease in the New York session on Friday, with mixed news left slightly lower at the close of the equity markets.
Part of Greece's most recent budget through Parliament, vote for a motion of confidence in the success of the Prime Minister of Italy Mario Monti, and rumors that European Central Bank is ready to launch a bond program supported sentiment unlimited buying early.
It's an ankle tapped by EBC Mario Draghi, who heads poured cold water on a bond bought the rumor, and called on politicians to shoulder more of the burden of financial rescue.