Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Wednesday, after the Reserve Bank of New Zealand left interest rates unchanged, although euro zone debt concerns continued to weigh on sentiment.
NZD/USD hit 0.8458 during late Asian trade, the session high; the pair subsequently consolidated at 0.8441, climbing 0.51%.
The pair was likely to find support at 0.8394, the low of April 22 and resistance at 0.8490, the high of April 19.
In a widely expected move, the RBNZ held the benchmark interest rate at 2.50%.
Commenting on the decision RBNZ Governor Graeme Wheeler said economic growth has accelerated but the bank remains concerned about rising home prices.
Meanwhile, markets remained jittery as expectations for a rate cut by the European Central Bank mounted on Tuesday after data showing that Germany’s manufacturing and service sectors contracted in April fuelled fears over the outlook for growth in the euro zone’s largest economy.
The kiwi was higher against the euro with EUR/NZD declining 0.52%, to hit 1.5403.
Later in the day, the U.S. was to produce government data on durable goods orders.
NZD/USD hit 0.8458 during late Asian trade, the session high; the pair subsequently consolidated at 0.8441, climbing 0.51%.
The pair was likely to find support at 0.8394, the low of April 22 and resistance at 0.8490, the high of April 19.
In a widely expected move, the RBNZ held the benchmark interest rate at 2.50%.
Commenting on the decision RBNZ Governor Graeme Wheeler said economic growth has accelerated but the bank remains concerned about rising home prices.
Meanwhile, markets remained jittery as expectations for a rate cut by the European Central Bank mounted on Tuesday after data showing that Germany’s manufacturing and service sectors contracted in April fuelled fears over the outlook for growth in the euro zone’s largest economy.
The kiwi was higher against the euro with EUR/NZD declining 0.52%, to hit 1.5403.
Later in the day, the U.S. was to produce government data on durable goods orders.