The New Zealand dollar was little-changed following the release of the Reserve Bank of Australia minutes, as it remains unclear how Europes debt crisis will be resolved and financial markets square away for the Christmas break.
The kiwi rose to 75.87 US cents at 5pm from 75.82 cents at 8am, and up from 75.73 cents yesterday.
The RBA minutes released this afternoon confirmed the European debt crisis was behind its decision to cut interest rates earlier this month. Australia, New Zealands largest trading partner, cut its cash rate to 4.25% from 4.5 percent effective December 7.
The kiwi climbed to 76.03 Australian cents following the announcement, with investors taking a slightly hawkish approach, said Chris Weston, market strategist at IG Markets in Australia.
The kiwi dollar is the top of the pile when compared it to its peers, but the situation is looking closely at what is happening in Europe, Weston said.
Spain will auction three-and six-month securities tonight after President Mario Draghi reiterated that the European Central Bank founding treaty prevents it from increasing government-bond purchases to fight the regions debt crisis.
European finance ministers are trying to negotiate channeling 200 billion euros in additional funding through the International Monetary Fund.
In New Zealand, traders are looking ahead to the balance of payments report for the third quarter, due out tomorrow and gross domestic product on Thursday.
The market is expecting GDP rose 0.6 percent in the third quarter after eking out a gain of just 0.1 percent three months earlier, according to a Reuters survey of 14 economists.
The kiwi rose to 76.37 Australian cents from 75.76 and to 58.34 euro cents from 58.29 cents yesterday and 59.16 yen from 59.04 yen. It fell to 48.85 British Pence from 48.89 pence.
The trade-weighted index increased to 68.23 from 68.15.
