The New Zealand dollar changed little against the currencies of all major trading partners on Friday.
Bank of New Zealand foreign exchange strategist, Raiko Shareef, says the kiwi is looking for direction after the United States Federal Reserve's relatively dove-ish comments earlier this week.
He says it seems to be neutral, with no cues in the market for it to follow.
"It looks like we'll probably be waiting until Monday afternoon for some direction."
At about 5pm on Friday, the dollar was trading 87.2 US cents, 92.66 Australian cents, 51.14 British pence, 0.6399 euro, 88.79 yen and 5.43 renminbi.
NZ shares drop
New Zealand shares fell on Friday, with the benchmark Top 50 Index diving 47 points, or nearly 1 percent, to 5145.
The head of research at Fat Prophets, Greg Smith, says the growing turmoil in Iraq is unsettling both the New Zealand and Australian markets.
He says the instability in Iraq is putting pressure on oil prices.
Shares in Oceana Gold rose 36 cents to $3.75, while shares in The Warehouse fell 26 cents to $3.06.
Gold was trading at $US1314.80 an ounce on Friday evening, up from $US1278 on Thursday.
The Warehouse expects annual net profit will be between $59 and $62 million, down from the previous forecast of $67 - $71 million.