The New Zealand dollar extended its decline after sinking below US70c last week for the first time in five years, with traders awaiting economic data for clues to the track of interest rates.
The kiwi fell to US69.67c as at 5pm yesterday from US69.93c at 8am and US69.81c on Friday in New York. The trade-weighted index declined to 72.86 from 73.10 last week.
The Reserve Bank's decision to cut the official cash rate a quarter-point to 3.25 per cent last week has investors questioning how much lower governor Graeme Wheeler will take the key rate.
This week brings the next dairy auction and first-quarter balance of payments tomorrow and gross domestic product on Thursday.
Meanwhile, the US Federal Reserve will review policy in Washington, and is expected to firm up its own rate outlook, providing support for the greenback.
