The New Zealand dollar drifted lower yesterday, following weakness in the aussie and the euro.
At 5 pm, the kiwi was at 44.44USc, from 45.13USc at Friday's close.
Dealers said a small boost in United States December retail figures sparked renewed interest in the greenback, and a corresponding slump in all the other major currencies.
The Bank of New Zealand's foreign exchange manager, Greg Ball, said:
"In general, a strong US dollar has seen the euro come off, the yen off, the stirling off, the aussie off, the kiwi off."
Total US retail sales increased fractionally in December - by 0.1 per cent to $US271.34 billion ($611.5 billion) - following drops of 0.5 per cent and 0.1 per cent in November and October.
Mr Ball said he thought yesterday's low of around 44.35USc was as low as the kiwi would go at present, with the market favouring a further drop in the US dollar, and an improving New Zealand dollar.
"I think we are probably getting near the lows in both the kiwi and the aussie.
"In the medium term we still like the [US] dollar weaker and we still prefer the other currencies stronger."
The US markets took a break for Martin Luther King day yesterday, so he expected overnight activity to be light.
- NZPA
<i>Currency:</i> Kiwi slides against greenback
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