The New Zealand dollar gained against its Australian counterpart after figures showed Australian economic growth was short of economists' expectations.
The kiwi rose to 83.41 Australian cents at 5pm in Wellington from 83.16 cents immediately before the release and 82.81 cents on Tuesday.
The NZ currency gained to 80.46 US cents from 80.07 cents at 8am and was little changed from 80.55 cents on Tuesday.
Investors spurned the Australian dollar after Bureau of Statistics figures showed the economy grew at a pace of 0.6 per cent in the first three months of the year, short of the 0.8 per cent expansion predicted.
That comes a day after the Reserve Bank of Australia held the target cash rate at 2.75 per cent, while saying there's scope for future cuts if need be.
"The kiwi/Aussie is a bit of a one-way story," said Imre Speizer, market strategist at Westpac Banking Corp in Auckland.
"We're thinking (the RBA) will cut in August" wiping out the yield advantage Australia has over New Zealand.
The kiwi dollar slipped to 80.21 yen at 5pm in Wellington from 80.32 yen on Tuesday and dropped to 61.46 euro cents from 61.65 cents.
The trade-weighted index slipped to 75.45 from 75.60.
