The New Zealand dollar has recorded a moderate change in New York as traders wait for clues from the budget talks in the US that are aimed at avoiding the fiscal cliff.

The New Zealand dollar was trading at 81.94 US cents from 81.93 cents in New York on Friday. The trade-weighted index was recorded at 73.53 from 73.55. The NZ currency is expected to record a 5.8 per cent annual gain on its relative yield advantage. Experts said that the national currency is expected to remain under pressure until there is some clarity in the US.

The Australian and New Zealand dollars were trading lower against most major currencies sin as the uncertainty continued in the US over budget talks. In the US, the uncertainty over the issue of fiscal cliff is putting pressure on the economic growth as investors are hindered by prospects of $600-billion in tax increases and spending cuts.

If the there is not agreement to resolve the situation, a series of spending cuts and tax hikes will automatically take affect from 2, January, 2013. Republicans in the US congress are opposing tax hikes for highest earners and are proposing increasing tax revenue without raising tax rates by limiting tax deductions and closing loopholes.