The New Zealand dollar may slip against the greenback amid renewed fears over debt-stricken European nations.
The New Zealand dollar traded at 82.88 US cents just before 8am, little changed from 82.78 cents at the close of trading in New York on Friday.
The trade weighted index was also steady at 73.43 from 73.46 last week.
Investors' fears about the pace of global growth have re-emerged amid growing speculation Spain will seek a bailout package in the coming days.
At the same time Greece is yet to reach an agreement with international lenders to access about 12 billion euros of additional assistance of its 130 billion euro package.
"Fears are creeping back into the market about Spain," said Stuart Ive, currency strategist at HiFX.
"The continuing issues about Spain and Greece are not going away - there will be a bit of a risk-off scenario initially" which will sap demand for currencies such as the kiwi, he said.
The New Zealand dollar is likely to trade in a range of 82 US cents to 83.40 cents this week, Mr Ive said.
"We have been trading in this band since September 14 and unless there is a major event we will remain in this band - finishing in the lower end of the band at the end of the week."
The New Zealand dollar rose to 63.91 euro cents from 63.78 cents at the close of trading in New York. The kiwi climbed to 79.34 Australian cents from 79.11 and little changed at 64.78 yen.
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