WELLINGTON, March 4 - The New Zealand dollar held above six-year lows on Wednesday, but investors remained caution about risky assets amid volatile financial markets. * Kiwi resumes around $0.4975/80 after hovering between $0.4920 and $0.5017 in offshore trade. The currency touched a low of $0.4912 this week -- the lowest since November 2002. * Kiwi got a lift in the previous day after the Australian central bank surprisingly opted to leave rates unchanged. * Analysts said the decision raised the risk of the New Zealand central bank taking a more measured approach to cutting rates at next week's monetary policy statement. Expectations remain for a cut of at least 50 basis points to 3 percent. * The U.S. dollar gains against the yen in choppy trading as investors seek the shelter of the greenback because of worries about the viability of the U.S. banking system. * The cost of protecting New Zealand government debt against default rose to a record high on Tuesday, with five-year CDS on New Zealand debt rose to 215.2 bps from 206.3 bps, putting the country with a 17 percent risk of default within five years. See [ID:nWEL358082] * The New Zealand dollar weaker against the Aussie , while stronger against the yen and the euro . * Kiwi seen supported at $0.4910, with resistance at $0.5000. * NZ bonds softer, after U.S. Treasury debt prices slipped on supply concerns, reversing the previous session's strong gains. Local yields up to three basis points higher along the curve. --------------March 4 snapshot at 9.00 a.m. (2000 GMT)----------

Source