The New Zealand dollar refused to regain ground after losing almost US1c overnight, closing at its lowest point this year.
The collapse of the euro the night before dragged the New Zealand and Australian dollars with it, and that sell-off continued yesterday.
At 5 pm the kiwi was at US43.55c, down from 43.87c at 9 am and well off Wednesday's close of 44.73c.
The euro was at US92.12c at 5 pm, from 93.56c at Wednesday's close, and the aussie was at 54.36c from 55.38c.
One dealer said the kiwi had seen a fair amount of volatility but volumes were low. But "there should be really good medium to longterm support at the 43.30/40c level.
"I think if we do dip off, medium to longterm traders will look to buy dips, definitely, with the view that the kiwi will continue to appreciate, albeit slowly, over the next few months," he said.
"Obviously we're all waiting for the US economy to decide whether it's going down or whether it's just stuttering. But I think the view still is that maybe it is stuttering and going to weaken, so it's good to have kiwi dollars - any sort of dip below US43.50c is going to be bought."
The strength of the greenback was related to the view that the Federal Reserve would only cut US rates a quarter of a percentage point at the end of the month, and not half a percentage point as previously expected.
- NZPA
<i>Currency:</i> Kiwi slumps against greenback
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