The New Zealand dollar spent most of the day retreating from its highs above US60c as the US dollar spiked late in the session.
By 5pm the kiwi was at US59.95c, above last night's close of US59.60c but below the high of US60.14c reached in London.
The aussie was at US68.57c (US68.30c).
ANZ Investment Bank chief foreign exchange dealer Murray Hindley said the kiwi spent most of the day trading between US60.00/05c.
While it had eased toward the end of the session, he picked the kiwi to trade higher overnight.
"I think it will be just a matter of time before we have a look up around US60.40c, (there's) continued US dollar weakness," Mr Hindley said.
Today's breach of the US60c mark was one of several so far this year, with the kiwi hitting US60.08c last week and US60.23c in July in intraday trading. On both occasions it failed to hold.
In Tokyo the US dollar rose against the yen on suspected intervention by the Japanese authorities but was otherwise broadly weak, dipping to three-month lows against the euro on worries about the US economy.
Data in the US during the last two offshore sessions have undercut the greenback, with a weak consumer confidence report on Tuesday night and generally good manufacturing figures out last night which were nevertheless not as positive as expected.
In Wellington by 5pm the euro rose to US$1.1755 from US$1.1672 late yesterday, while greenback eased to 110.90 yen (111.20).
On the crosses, the kiwi was at A87.43c (A87.26c), 66.49 yen (66.27), 35.88 pence (35.83), 0.7867 Swiss francs (0.7856), and 0.5099 euro (0.5104).
The Australian dollar was at $1.1437 ($1.1457).
The monetary conditions index was at plus 244 (232), the trade-weighted index was at 62.19 (62.02), and 90-day bank bill yields were at 5.17 per cent (5.18).
The February 2005 Government bond yields were at 5.19 per cent (5.18), the November 2006s were at 5.37 per cent (5.36), and the November 2011s were at 5.67 per cent (5.65).
- NZPA
<i>Currency:</i> NZ dollar yields US60c at session's close
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