The New Zealand dollar dropped to a fresh six-month low on Monday, having shed 12 per cent in the September quarter and will likely head lower this week amid the ongoing troubles in Europe.
The kiwi dropped to 75.81 US cents at 5pm, from 76.07 cents at 8am and 76.52 on Friday in New York.
As Europe's sovereign debt crisis drags on, investors will be looking for guidance from European Central Bank President Jean Claude Trichet and Federal Reserve chairman Ben Bernanke when they speak on Tuesday.
"The markets are looking for rhetoric around central bank action," said Alex Hill, manager of corporate FX at HiFX. "I think we're going to see the kiwi lower from here."
The New Zealand Institute of Economic Research's quarterly survey of business opinion tomorrow is one of the key pieces of data used by the Reserve Bank when setting monetary policy.
The kiwi was little changed at 68.05 on the trade-weighted index from Friday in New York, and rose to 78.95 Australian cents from 78.43 cents.
It fell to 58.30 yen from 58.58 yen on Friday, rose to 56.87 euro cents from 56.53, and 48.83 British pence from 49.08 on Friday.
