Investing.com - The New Zealand dollar fell against its U.S. counterpart on Monday, as investors remained cautious before the release of U.S. data this week, amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.
NZD/USD hit 0.8024 during late Asian trade, the session low; the pair subsequently consolidated at 0.8016, shedding 0.27%.
The pair was likely to find support at 0.7934, the low of August 8 and resistance at 0.8099, the high of July 29.
The greenback came under pressure against the other major currencies last week after the latest U.S. jobs report on August 2 showed that the economy added fewer jobs than expected in July.
The disappointing data saw investors reassess expectations for when the U.S. central bank would start to taper its asset purchase program.
Investors were looking ahead to Tuesday’s retail sales report, as well as speeches by senior Fed officials later in the week.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.10%, to hit 1.1454.
NZD/USD hit 0.8024 during late Asian trade, the session low; the pair subsequently consolidated at 0.8016, shedding 0.27%.
The pair was likely to find support at 0.7934, the low of August 8 and resistance at 0.8099, the high of July 29.
The greenback came under pressure against the other major currencies last week after the latest U.S. jobs report on August 2 showed that the economy added fewer jobs than expected in July.
The disappointing data saw investors reassess expectations for when the U.S. central bank would start to taper its asset purchase program.
Investors were looking ahead to Tuesday’s retail sales report, as well as speeches by senior Fed officials later in the week.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.10%, to hit 1.1454.