The New Zealand dollar fell to a two-week low after weaker-than-expected Japanese growth figures sapped risk appetite and traders awaited retail sales data locally and economic growth and inflation data out of Europe.
The kiwi dollar traded at 80.90 US cents, down from 81.14 cents at 5 pm yesterday. The trade-weighted index slipped to 72.74 from 72.98.
Japan's economy grew 0.3 per cent in the second quarter, less than half the pace expected. Figures today are expected to show New Zealand retail sales rose 0.7 per cent in the second quarter, after contracting three months earlier.
In Europe today, data may show gross domestic product shrank 0.2 per cent last quarter while US data this week includes retail sales, consumer prices and industrial production.
"There was a bit of risk coming off overnight with Japanese GDP being a bit weak," said Stuart Ive, currency strategist at HiFX. With the raft of global economic data pending, "we're seeing long positions coming off".