The American dollar was once again at centre stage as the New Zealand unit finished flat in very light trade.
The kiwi closed at 45.51USc. A currency dealer said it ended with a mildly firm tone but reliant on aussie dollar moves.
The greenback has reasserted itself after Friday's strong economic growth figures, raising questions about hopes for a soft economic landing.
The week's main action will be dictated by whatever implications the market sees for the US Federal Reserve's rates-setting meeting on August 22 when US inflation, income and spending data is released overnight and employment figures come out on Friday.
The weight of evidence increasingly suggests the Fed will hike rates.
The dealer said last week's positive view on the aussie had turned around somewhat after it broke below the significant 58.90USc level. It was currently supported below 58USc.
Locally, the market is watching for Australian retail sales numbers, the result of a rates meeting at the Australian central bank, and today's early morning speech on inflation by Reserve Bank governor Don Brash.
Dealers are also watching for tomorrow's June quarter household labour force survey, and Friday's June quarter retail trade numbers.
- NZPA
Greenback hogs the limelight
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