WELLINGTON (Dow Jones)--The New Zealand dollar was trading lower late Tuesday as persistent worries over a possible Greek default continued to weigh on sentiment. The Kiwi largely overlooked news that New Zealand's business confidence eased but remained positive in the third quarter. Tuesday's weaker New Zealand dollar was "all about last night" as the wider European debt crisis remains bereft of a clear solution, said Westpac Bank Senior Market Strategist Imre Speizer. It also lost some ground when the Reserve Bank of Australia opened the door for a November rate cut, dipping down to US$0.7508. "Even though interest rate markets had priced that in (a November cut), the FX markets were always vulnerable to a fall if the RBA corroborated what the rates markets were saying," said Speizer. He said markets will now be watching for Federal Reserve Chairman Ben Bernanke later in the global trading day when he testifies in Congress on the economic outlook. "If he talks up the need to stimulate, he might cause a little bit of a bounce back in risk appetite," said Speizer. He said the New Zealand dollar has immediate support at US$0.7500 and if that breaks, the next support is at US$0.7350. Resistance is at US$0.7600. Government bond yields ended lower. "There was basically more bad news last night. U.S. equities were down, Europe is still shaky so yields keep coming off," a local bond trader said.

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