Investing.com – The New Zealand dollar soared against its U.S. counterpart on Monday, hitting a 3-month high amid improved risk appetite on the back of upbeat U.S. data and efforts to secure a bailout package for Greece.
NZD/USD gained 0.8% to hit 0.7227 during European midday trade, its highest since Jan. 21. The pair was likely to find resistance at 0.7439, the high of Jan. 14, and support at 0.6965, the low of April 6.
Last week, official reports showed that demand in the U.S. housing market and for U.S. goods was growing and that unemployment was dropping, boosting hopes that the global economic recovery was picking up steam.
The Kiwi also surged against the yen, with NZD/JPY jumping 0.91% to reach 68.03.
Both the United States and New Zealand, meanwhile, were set to make key interest rate decisions on Wednesday.
NZD/USD gained 0.8% to hit 0.7227 during European midday trade, its highest since Jan. 21. The pair was likely to find resistance at 0.7439, the high of Jan. 14, and support at 0.6965, the low of April 6.
Last week, official reports showed that demand in the U.S. housing market and for U.S. goods was growing and that unemployment was dropping, boosting hopes that the global economic recovery was picking up steam.
The Kiwi also surged against the yen, with NZD/JPY jumping 0.91% to reach 68.03.
Both the United States and New Zealand, meanwhile, were set to make key interest rate decisions on Wednesday.