Wheeler struck the right note in this morning's official cash rate announcement: appropriately dovish but not alarmist.

The New Zealand dollar has fallen ahead of the Reserve Bank's expected interest rate cut this morning.

NZIER's monetary policy shadow board favours a cut to the official cash rate of 25 basis points to 3 per cent tomorrow.

The dollar advanced as traders who had bet on the currency's decline took profits ahead of the tomorrow's interest rate decision.

The NZ dollar has been trading around 65 US cents, which the Prime Minister has previously called the "Goldilocks" level.

Confidence fell as households turned sour on the economic outlook, although more remain positive rather about their personal situation.

Consumer prices rose as a weaker currency and higher global oil prices lifted the cost of petrol.

The dollar plummeted after whole milk powder fell more than expected in the GlobalDairyTrade auction overnight.

Wall Street moved lower overnight as Greek lawmakers prepared to vote on a proposal that would secure its third international bailout.

The dollar gained as an unexpected decline in US retail sales raised speculation of a delayed increase in US interest rates.

US retail sales slid 0.3pc in in June, the weakest since February, lowering expectations the Fed will hike interest rates in September.

The NZ dollar weakened as Greek agreement turned investor attention to US interest rate hikes, supporting greenback.

The lower kiwi will benefit exporters such as Delegat which counts the US as its largest market.

The dollar weakened as Eurozone leaders stepped up their demands for Greece reforms at meetings over the weekend.

Wall St and European shares fell overnight as fears about the Chinese share fire sale and its economic outlook grows.

The dollar fell as commodity prices dropped on concern about waning demand.

Business confidence has fallen to a three-year low, led by regions like Waikato, Canterbury and Southland particularly exposed to the dairy sector.

The country's business confidence plunged as companies became pessimistic about profitability expectations.

The kiwi dollar was little changed overnight as traders awaited further developments in Greece.

The Greek rejection of the creditor bailout package has lead to a fall in world shares, oil and the European currency.

Greece’s “no” vote on austerity measures lead to a tumultuous day of trading across equity markets – including New Zealand and Australia.

The dollar hits a five-year low as Greeks reject austerity in referendum.

Because Greece doesn't have its own currency, it couldn't increase its competitiveness and boost growth through devaluation.

So much for the rock star economy.