The New Zealand dollar is little changed against the currencies of all its major trading partners as a subdued market awaits economic data.
Rankin Treasury Advisory managing director Derek Rankin said holidays in the United States and Britain had affected the day's trading.
"Relatively subdued as we await more economic data this week, principally the Fonterra payout," Mr Rankin said.
"So with the milk prices falling something like 20 percent this year, and the high currency, we expect the payout to be lowered.
"That will probably have a negative effect on the New Zealand dollar."
Fonterra will update its forecast payout the current and coming season on Wednesday.
Just after 5pm, the New Zealand dollar was buying: 85.33 US cents, 92.34 Australian cents, 50.67 pence, 0.6267 euro, 86.97 yen and 5.32 renminbi.
Shares slightly up
New Zealand shares rose on Monday, with the today, with the NZX Top 50 Index gaining 2 points to close at 5154.
Forsyth Barr investment advisor Mark Ammundsen said Fisher and Paykel continued to make gains after a favourable annual report last week, with shares climbing 11 cents to $4.34.
AMP shares rose 13 cents to $5.75, while shares in the Acurity Healthcare Group gained 10 cents to $5.35 after the hospital operator reported a 55 percent increase in net profit to $9.1 million for the year ended March.
Hellaby Holdings closed down 2 cents to $2.90 after issuing a revised profit forecast.