Investing.com – The New Zealand dollar surged against the greenback on Monday, hitting a 6-day high after euro zone leaders agreed upon a financial safety net for debt-stricken Greece last week.
NZD/USD hit 0.7117 during early European trade, its highest rate since March 19; the pair subsequently consolidated around 0.7108, gaining 1.09%.
The pair was likely to find short-term resistance at 0.7178, the high of March 17, and short-term support at 0.6961, the low of March 9.
A government report last week showed that New Zealand's economy grew at its fastest pace in two years in the fourth quarter last year. Also last week, euro zone nations and International Monetary Fund pledged to help Greece finance the region’s biggest budget deficit if it runs out of options in capital markets.
Meanwhile, the kiwi also soared versus the yen, with NZD/JPY shooting up 1.05% to reach 65.75.
Later Monday, the U.S. was set to release data on consumer inflation, as well as reports on personal spending and personal income.
NZD/USD hit 0.7117 during early European trade, its highest rate since March 19; the pair subsequently consolidated around 0.7108, gaining 1.09%.
The pair was likely to find short-term resistance at 0.7178, the high of March 17, and short-term support at 0.6961, the low of March 9.
A government report last week showed that New Zealand's economy grew at its fastest pace in two years in the fourth quarter last year. Also last week, euro zone nations and International Monetary Fund pledged to help Greece finance the region’s biggest budget deficit if it runs out of options in capital markets.
Meanwhile, the kiwi also soared versus the yen, with NZD/JPY shooting up 1.05% to reach 65.75.
Later Monday, the U.S. was set to release data on consumer inflation, as well as reports on personal spending and personal income.