The New Zealand dollar drifted lower overnight in thin trading as US markets were closed for a public holiday.
The kiwi fell to 83 59 US cents at 8am in Wellington from 83.72 cents at 5pm yesterday in light trading during the Presidents' Day holiday. The trade-weighted index was unchanged at 78.40.
"Over a largely quiet overnight session, the New Zealand dollar drifted lower along in tandem with the Australian dollar, with no clear drivers at play," Bank of New Zealand currency strategist Raiko Shareef said in a note. "The Reserve Bank of Australia (board) minutes are due this afternoon, which may provide some direction for the New Zealand dollar."
The Australian dollar has strengthened about 3 per cent against the US dollar so far this month as the RBA dropped its bias towards easing interest rates and softened its comments about the strength of the nation's currency. New information from the minutes may be limited because the central bank released its Statement of Monetary Policy last week.
The New Zealand dollar advanced 92.51 Australian cents from 92.44 cents yesterday ahead of the release of the February minutes at 1:30pm.