Kiwi falls after RBNZ inflation outlook eases, Greece eyed

The New Zealand dollar fell on Tuesday after the central bank revised down its outlook for inflation in the year ahead, while investors awaited further developments on Greece and its reform proposals for continued euro zone loans

Financial markets in China remain closed until Wednesday. In Japan, producer prices rose 3.4%, below expectations of a 3.6% gain.

Overnight, the dollar trimmed gains against the other major currencies on Monday, after the release of disappointing U.S. home sales data, although concerns over whether Greece will announce the necessary reforms for its bailout extension continued to support safe-haven demand.

In a report, the National Association of Realtors said that existing home sales decreased 4.9% to 4.82 million units last month from 5.07 million in December. Analysts had expected existing home sales to fall 0.8% to 4.97 million units in January.

Greece will present its economic reform plans to the euro zone on Tuesday, a government official said.

 Varchev Traders

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