Investing.com - The New Zealand dollar was steady against its U.S. counterpart on Tuesday, trading close to a two-month high as concerns over political uncertainty slightly eased, although investors remained cautious.
NZD/USD hit 0.8357 during late Asian trade, the pair's highest since September 27; the pair subsequently consolidated at 0.8354, edging up 0.06%.
The pair was likely to find support at 0.8324, Monday's low and resistance at 0.8398, the high of March 2.
Sentiment found some support after Italian Prime Minister Mario Monti played down fears over an imminent resignation, saying he was focused on "completing his mandate" before 2013 elections.
Separately, expectations that the Federal Reserve will announce further easing measures at the conclusion of Wednesday’s policy meeting continued to weigh on dollar demand.
Investors were also awaiting fresh developments in negotiations to avoid the U.S. fiscal cliff amid concerns that the automatic tax hikes and spending cuts due to take effect in early 2013 could derail the U.S. recovery.
The kiwi was higher against the Australian dollar with AUD/NZD falling 0.14%, to hit 1.2544.
Also Tuesday, the National Australia Bank said that its index of business confidence deteriorated to minus 9 in November from a reading of minus 1 the previous month.
Later in the day, the ZEW Institute of Economic Research was to release its closely watched index of German economic sentiment, while the U.S. was to publish official data on the trade balance.
NZD/USD hit 0.8357 during late Asian trade, the pair's highest since September 27; the pair subsequently consolidated at 0.8354, edging up 0.06%.
The pair was likely to find support at 0.8324, Monday's low and resistance at 0.8398, the high of March 2.
Sentiment found some support after Italian Prime Minister Mario Monti played down fears over an imminent resignation, saying he was focused on "completing his mandate" before 2013 elections.
Separately, expectations that the Federal Reserve will announce further easing measures at the conclusion of Wednesday’s policy meeting continued to weigh on dollar demand.
Investors were also awaiting fresh developments in negotiations to avoid the U.S. fiscal cliff amid concerns that the automatic tax hikes and spending cuts due to take effect in early 2013 could derail the U.S. recovery.
The kiwi was higher against the Australian dollar with AUD/NZD falling 0.14%, to hit 1.2544.
Also Tuesday, the National Australia Bank said that its index of business confidence deteriorated to minus 9 in November from a reading of minus 1 the previous month.
Later in the day, the ZEW Institute of Economic Research was to release its closely watched index of German economic sentiment, while the U.S. was to publish official data on the trade balance.