The kiwi dollar traded lower in the Asian session, influenced by the strengthening of the US dollar and political developments in New Zealand.
Prime Minister Chris Hipkins has announced a cabinet reshuffle after almost a week of being appointed to lead New Zealand.
He said the new cabinet will focus on core fundamentals such as the cost of living, education, health, change and ensuring communities and businesses are safe.
Despite the dissolution, he confirmed that Grant Robertson would remain as finance minister.
According to Hipkins, he will be fully focused on fighting inflation and helping New Zealanders and businesses survive.
The New Zealand dollar recorded a slight decline as soon as the report on the overhaul was released, in addition to being affected by the stronger US dollar trading.
The greenback strengthened slightly in the Asian session although the gains recorded were seen to be limited amid investor caution ahead of key data and central bank meetings.
