Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Wednesday, as markets were jittery amig ongoing uncertainty over whether the Federal Reserve will soon begin tapering its bond-buying program.
NZD/USD hit 0.7910 during late Asian trade, the pair;s lowest since August 7; the pair subsequently consolidated at 0.7931, retreating 0.61%.
The pair was likely to find support at 0.7827, the low of August 6 and resistance at 0.8070, Tuesday's high.
Investors were eyeing the minutes of the Fed’s July meeting, due out on Wednesday, for further indications as to when the central bank may start to taper its USD85 billion-a-month stimulus program.
Expectations that the Fed may begin tapering as soon as next month were boosted after data last week showed that U.S. weekly jobless claims fell to an almost six year low.
Fed Chairman Ben Bernanke has said that the decision to start tapering will depend on whether economic data is strong enough.
The kiwi was lower against the New Zealand dollar with AUD/NZD adding 0.20%, to hit 1.1389.
Later in the day, the U.S. was to release private sector data on new home sales.
NZD/USD hit 0.7910 during late Asian trade, the pair;s lowest since August 7; the pair subsequently consolidated at 0.7931, retreating 0.61%.
The pair was likely to find support at 0.7827, the low of August 6 and resistance at 0.8070, Tuesday's high.
Investors were eyeing the minutes of the Fed’s July meeting, due out on Wednesday, for further indications as to when the central bank may start to taper its USD85 billion-a-month stimulus program.
Expectations that the Fed may begin tapering as soon as next month were boosted after data last week showed that U.S. weekly jobless claims fell to an almost six year low.
Fed Chairman Ben Bernanke has said that the decision to start tapering will depend on whether economic data is strong enough.
The kiwi was lower against the New Zealand dollar with AUD/NZD adding 0.20%, to hit 1.1389.
Later in the day, the U.S. was to release private sector data on new home sales.