The New Zealand dollar fell, influenced by the Reserve Bank of New Zealand's more dovish stance than expected.

Analysts said the New Zealand dollar fell against the US dollar and Australian dollar in early Asian trading, as the statement issued earlier by the Reserve Bank of New Zealand was seen as looser than expected. Sharon Zollner of the ANZ Bank Research Department said in a research report, "Overall, the Reserve Bank of New Zealand has shown confidence in inflation quickly returning to a downward trend and has declared its willingness to remain patient." The chief economist in New Zealand said, "The market reaction was moderate, but it indicates that the Reserve Bank of New Zealand's stance is slightly more accommodative than expected," pointing out the weakness of the New Zealand dollar this morning. FactSet data shows the New Zealand dollar fell 0.7% against the US dollar to 0.6006 USD, while the Australian dollar/New Zealand dollar rose 0.5% to 1.1773 NZD.