A positive revision to the current account deficit was insufficient to counter weak leads from the euro and Australian dollar, so the kiwi closed down half a US cent at 41.45USc.
A currency dealer said the revised deficit - shrinking in the March year to 7.1 per cent from 8.2 per cent - inspired a rally of just 10 basis points.
"The market focus is on external factors rather than domestic factors," the dealer said.
Primary among them was the weak Australian dollar, which hit an all-time low on Friday of 54.40USc and plumbed fresh lows in New Zealand trading yesterday, closing at 54.29USc from 55.00USc last week.
The euro was also at record lows, around 85.35USc, like the aussie succumbing again to the greenback's strength.
European Central Bank intervention did little to support the euro, and despite rumours it appears that the Reserve Bank of Australia did not buy aussie yesterday.
The currency dealer said the New Zealand dollar ended the day with all the risk on the downside. Its record low is near, at 41.25USc.
The kiwi traded in light volumes in a 41.40-72USc range, having closed on Friday at 41.99USc.
The local market is looking forward to Friday morning's June quarter current account numbers. The huge shortfall in what New Zealand earns and spends overseas ranks among the main culprits underlying kiwi weakness.
- NZPA
<i>Currency:</i> Weak euro, $A drag kiwi down
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