Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart on Tuesday, as markets were jittery after an offer to help restructure Greece's debt was rejected by euro zone finance ministers.
NZD/USD hit 0.8120 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8102, inching up 0.02%.
The pair was likely to find support at 0.8044, Monday’s low and resistance at 0.8140, Monday’s high.
At a meeting in Brussels on Monday, ministers said they could not accept bondholders' demands for an interest rate of 4% on new, longer-dated bonds that are expected to be issued in exchange for their existing Greek holdings.
Greece said it is not prepared to pay an interest rate of more than 3.5%, and euro zone finance ministers as well as the International Monetary Fund backed the Greek government's position.
The aim of the restructuring is to reduce Greece's debt by around EUR100 billion euros, cutting it from 160% of the country’s gross domestic product to 120% by 2020, a level European Union and IMF officials think will be more manageable for the Greek economy.
Olli Rehn, the European Commissioner for Economic and Monetary Affairs, said he expected a deal on the debt swap to be struck "within days".
Meanwhile, the kiwi was higher against the Australian dollar with AUD/NZD shedding 0.24%, to hit 1.2956.
Also Tuesday, the Conference Board said in a report earlier that Australia’s leading index declined 0.3% in November after a 0.5% rise the previous month.
NZD/USD hit 0.8120 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8102, inching up 0.02%.
The pair was likely to find support at 0.8044, Monday’s low and resistance at 0.8140, Monday’s high.
At a meeting in Brussels on Monday, ministers said they could not accept bondholders' demands for an interest rate of 4% on new, longer-dated bonds that are expected to be issued in exchange for their existing Greek holdings.
Greece said it is not prepared to pay an interest rate of more than 3.5%, and euro zone finance ministers as well as the International Monetary Fund backed the Greek government's position.
The aim of the restructuring is to reduce Greece's debt by around EUR100 billion euros, cutting it from 160% of the country’s gross domestic product to 120% by 2020, a level European Union and IMF officials think will be more manageable for the Greek economy.
Olli Rehn, the European Commissioner for Economic and Monetary Affairs, said he expected a deal on the debt swap to be struck "within days".
Meanwhile, the kiwi was higher against the Australian dollar with AUD/NZD shedding 0.24%, to hit 1.2956.
Also Tuesday, the Conference Board said in a report earlier that Australia’s leading index declined 0.3% in November after a 0.5% rise the previous month.