Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Monday, but remained within close range of a four-month high as demand for the greenback weakened amid uncertainty over the future of the Federal Reserve's stimulus program.
NZD/USD hit 0.8476 during late Asian trade, the session low; the pair subsequently consolidated at 0.8482, slipping 0.29%.
The pair was likely to find support at 0.8416, the low of October 17 and resistance at 0.8556, the high of June 5.
The dollar remained under pressure as concerns over the impact of the 16-day shutdown on the U.S. economic recovery fuelled expectations that the Fed would delay plans for rolling back its asset purchase program until at least the beginning of next year.
Investors were awaiting U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
The kiwi was also lower against the Australian dollar with AUD/NZD edging up 0.20%, to hit 1.1396.
Later in the day, the U.S. was to release private sector data on existing home sales.
NZD/USD hit 0.8476 during late Asian trade, the session low; the pair subsequently consolidated at 0.8482, slipping 0.29%.
The pair was likely to find support at 0.8416, the low of October 17 and resistance at 0.8556, the high of June 5.
The dollar remained under pressure as concerns over the impact of the 16-day shutdown on the U.S. economic recovery fuelled expectations that the Fed would delay plans for rolling back its asset purchase program until at least the beginning of next year.
Investors were awaiting U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
The kiwi was also lower against the Australian dollar with AUD/NZD edging up 0.20%, to hit 1.1396.
Later in the day, the U.S. was to release private sector data on existing home sales.