The New Zealand dollar fell against the euro even as the latest breakdown in negotiations between Greece and its European creditors stoked concerns the Mediterranean nation will end up leaving the shared currency and monetary union.
The kiwi fell to 61.97 euro cents at 8.30am from 62.12 cents yesterday. It was little changed at 69.92 US cents from 69.97 cents.
Talks between Greece and its European creditors over the 1.6 billion euros payment due at the end of the month broke down again, and unless European leaders see a better deal in front of them on Thursday at a finance minister forum, they may put an ultimatum before the Mediterranean nation, according to media reports.
European Central Bank president Mario Draghi was among the leaders stepping up rhetoric, saying a "strong and comprehensive" agreement is needed very soon, tempered by comments that a Greek default would be uncharted territory and European leaders need to be realistic.
"So far the Greek government has held firm, with PM (Alexis) Tspiras noting they will wait patiently until 'the institutions adhere to realism'. This looks set to go down to the wire," ANZ Bank New Zealand senior economist Mark Smith and senior FX strategist Sam Tuck said in a note.