Investing.com - The New Zealand dollar declined against its U.S. counterpart on Tuesday, as markets were jittery amid renewed uncertainty over when the Federal Reserve will begin tapering its stimulus program.
NZD/USD hit 0.8315 during late Asian trade, the pair's lowest since September 18; the pair subsequently consolidated at 0.8330, retreating 0.53%.
The pair was likely to find support at 0.8206, the low of September 18 and resistance at 0.8401, the high of September 20.
Investors remained cautious after New York Federal Reserve President William Dudley defended the central bank’s decision to keep its stimulus program unchanged last week, in comments on Monday.
Dudley said that adjustments to the Fed’s USD85 billion-a-month asset purchase program "need to be anchored in an assessment of how the economy is actually performing”.
The Fed said last week that it wanted to see more evidence of a sustained economic recovery before it adjusted the scale of its bond buying program. The decision surprised markets, which had been expecting a modest reduction to the scale of the bank’s bond buying program.
The kiwi was lower against the Australian dollar with AUD/NZD rising 0.29%, to hit 1.1296.
Later in the day, the U.S. was to release private sector data on house price inflation, as well as a report on consumer confidence.
NZD/USD hit 0.8315 during late Asian trade, the pair's lowest since September 18; the pair subsequently consolidated at 0.8330, retreating 0.53%.
The pair was likely to find support at 0.8206, the low of September 18 and resistance at 0.8401, the high of September 20.
Investors remained cautious after New York Federal Reserve President William Dudley defended the central bank’s decision to keep its stimulus program unchanged last week, in comments on Monday.
Dudley said that adjustments to the Fed’s USD85 billion-a-month asset purchase program "need to be anchored in an assessment of how the economy is actually performing”.
The Fed said last week that it wanted to see more evidence of a sustained economic recovery before it adjusted the scale of its bond buying program. The decision surprised markets, which had been expecting a modest reduction to the scale of the bank’s bond buying program.
The kiwi was lower against the Australian dollar with AUD/NZD rising 0.29%, to hit 1.1296.
Later in the day, the U.S. was to release private sector data on house price inflation, as well as a report on consumer confidence.