The New Zealand dollar spent the day in consolidation after pushing towards the key US60c mark in earlier sessions this week.
At 5pm, the kiwi was buying US59.33c from US59.69c at the same time yesterday.
The kiwi traded between US59.14c and US59.45c today.
BNZ currency strategist Sue Trinh said the kiwi's pull back from the US60c mark was to be expected.
"It's been consistent with the moves from the major currencies, which have also given up some ground," she told NZPA today.
"In many ways its been expected because it's not often that we see such a sharp move in the kiwi without some sort of consolidation afterwards."
Over the weekend the kiwi spiked from US58.72c on Friday to US59.58c on Monday.
The move came after comments at the G7 meeting in Dubai signalled the start of a new period of weakness in the United States dollar.
"We emphasise that more flexibility in exchange rates is desirable for major countries or economic areas to promote smooth and widespread adjustments in the international financial system, based on market mechanisms," a statement from the meeting said.
At market's close today, the Australian dollar was at US67.55c (from US67.79c yesterday).
The euro dipped to US$1.1461 (US$1.1480), while the US dollar eased to 112.14 yen (112.04).
On the crosses, the kiwi was at A87.83c (A88.02c), 66.54 yen (66.85), 35.94 pence (36.21), 0.8054 Swiss francs (0.8075), and 0.5177 euro (0.5198).
The Australian dollar was buying $1.1386 ($1.1364).
The monetary conditions index was at plus 248 (272), the trade-weighted index was at 62.25 (62.53) and 90-day bank bill yields were at 5.17 per cent, (5.16).
The February 2005 Government bond yields were unchanged at 5.25 per cent (5.23), the November 2006s were at 5.50 per cent (5.49), and the November 2011s were at 5.84 per cent (5.83).
- NZPA
<i>Currency:</i> Dollar consolidates after surge against Greenback
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