Investing.com - The New Zealand dollar dropped against its U.S. counterpart on Monday, as markets were jittery amid sustained worries over the partial shutdown of the U.S. government.
NZD/USD hit 0.8272 during late Asian trade, the pair's lowest since October 2; the pair subsequently consolidated at 0.8274, retreating 0.55%.
The pair was likely to find support at 0.8246, the low of October 1 and resistance at 0.8351, the high of October 4.
Investors remained cautious after Republican House Speaker John Boehner said Sunday the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless Democrats agree to talks about spending cuts.
The comments fuelled fears that the political deadlock in Washington will not be resolved by October 17, the date which the Treasury Department has estimated the U.S. could risk an unprecedented default.
In addition, delays in U.S. economic data releases looked likely to fuel uncertainty over whether the Federal Reserve will hold off on any move to roll back its USD85 billion a month asset purchase program.
The shutdown meant that Friday’s scheduled release of the U.S. nonfarm payrolls report for September was postponed and no new date was given for the release of the data.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.20%, to hit 1.1358.
NZD/USD hit 0.8272 during late Asian trade, the pair's lowest since October 2; the pair subsequently consolidated at 0.8274, retreating 0.55%.
The pair was likely to find support at 0.8246, the low of October 1 and resistance at 0.8351, the high of October 4.
Investors remained cautious after Republican House Speaker John Boehner said Sunday the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless Democrats agree to talks about spending cuts.
The comments fuelled fears that the political deadlock in Washington will not be resolved by October 17, the date which the Treasury Department has estimated the U.S. could risk an unprecedented default.
In addition, delays in U.S. economic data releases looked likely to fuel uncertainty over whether the Federal Reserve will hold off on any move to roll back its USD85 billion a month asset purchase program.
The shutdown meant that Friday’s scheduled release of the U.S. nonfarm payrolls report for September was postponed and no new date was given for the release of the data.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.20%, to hit 1.1358.