Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Wednesday, ahead of the Reserve Bank of New Zealand's monthly policy statement, while speculation over a possible near-term end to the Federal Reserve's stimulus program persisted.
NZD/USD hit 0.7923 during late Asian trade, the pair's highest since June 7; the pair subsequently consolidated at 0.7890, adding 0.23%.
The pair was likely to find support at 0.7836, the low of June 10 and resistance at 0.8016, the high of June 7.
Sentiment found support after Germany's Finance Minister Wolfgang Schauble defended the European Central Bank’s bond purchasing scheme at a hearing in Germany’s constitutional court into the legality of the program on Tuesday.
In New Zealand, industrial data showed that house price inflation rose 0.7% in May, after a 0.8% increase the previous month.
But markets remained jittery amid ongoing speculation over whether the Federal Reserve will begin to unwind its easing program in the coming months.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.05%, to hit 1.1982.
Also Wednesday, the Westpac Banking Corporation said consumer sentiment rose 4.7% in June, after a 7% decline the previous month.
Later in the day, the RBNZ was to announce its benchmark interest rate and publish its rate statement, followed by a press conference.
NZD/USD hit 0.7923 during late Asian trade, the pair's highest since June 7; the pair subsequently consolidated at 0.7890, adding 0.23%.
The pair was likely to find support at 0.7836, the low of June 10 and resistance at 0.8016, the high of June 7.
Sentiment found support after Germany's Finance Minister Wolfgang Schauble defended the European Central Bank’s bond purchasing scheme at a hearing in Germany’s constitutional court into the legality of the program on Tuesday.
In New Zealand, industrial data showed that house price inflation rose 0.7% in May, after a 0.8% increase the previous month.
But markets remained jittery amid ongoing speculation over whether the Federal Reserve will begin to unwind its easing program in the coming months.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.05%, to hit 1.1982.
Also Wednesday, the Westpac Banking Corporation said consumer sentiment rose 4.7% in June, after a 7% decline the previous month.
Later in the day, the RBNZ was to announce its benchmark interest rate and publish its rate statement, followed by a press conference.