The New Zealand dollar has lost further ground against the Aussie.

After almost reaching parity two days ago at 99.60 it has slipped more than two cents to 97.20.

ANZ market strategist Sam Tuck says the market's concluding the attempt for parity were rebuffed for fundamental reasons.

"Slight tonal change from the RBNZ opening up the downside a little bit further yesterday has driven the markets to conclude 'not this time', and maybe we should back away from the parity point for the moment."