Investing.com - The New Zealand dollar declined against its U.S. counterpart on Monday, to trade at one-week lows as demand for the greenback remained broadly supported by Friday's upbeat fourth-quarter U.S. growth data and remarks by Federal Reserve Chair Janet Yellen.
NZD/USD hit 0.7525 during late Asian trade, the pair's lowest since March 20; the pair subsequently consolidated at 0.7516, sliding 0.65%.
The pair was likely to find support at 0.7448, the low of March 5 and resistance at 0.7619, the high of March 27.
The greenback remained supported after the Commerce Department reported Friday that the U.S. economy expanded at an annual rate of 2.2% in the fourth quarter, unchanged from the preliminary estimate and below economists’ forecasts for an upward revision to 2.4%.
Separately, In addition, Fed Chair Janet Yellen said in a speech on Friday that a rate hike may be warranted later this year, but added that weakening inflation pressures could force the Fed to delay.
Ms. Yellen said policy tightening could "speed up, slow down, pause, or even reverse course" depending on how the economy is performing.
The kiwi was fractionally lower against the Australian dollar, with AUD/NZD edging up 0.08% to 1.0248.
Later in the day, the U.S. was to release reports on personal spending and pending home sales.