Investing.com - The New Zealand dollar was up against its U.S. counterpart on Thursday, trading close to a five-month high as rumors of an imminent bond swap deal between Greece and its private creditors supported demand for riskier assets.
NZD/USD hit 0.8351 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8337, gaining 0.14%.
The pair was likely to find support at 0.8292, the low of September 5 and resistance at 0.8416, the high of August 24.
The risk-related kiwi found support amid rumors that Greece's long-delayed deal with private sector creditors to cut its debt was nearly finalized. However, investors remained concerned that a debt swap deal will not go far enough to reduce the country’s debt load.
Meanwhile, markets were also eyeing Spanish and French government bond auctions later in the day. Spain was to offer as much as EUR4.5 billion in short to medium term debt and France was offering up to EUR8 billion.
Recent successful debt auctions showed the European Central Bank's injection of nearly half a trillion euros helped bolster demand.
The kiwi was moderately lower against the Australian dollar with AUD/NZD edging up 0.10%, to hit 1.2867.
Earlier Thursday, official data showed that Australia’s trade surplus rose unexpectedly to AUD1.71 billion in December from a surplus of AUD1.34 billion the previous month.
Later in the day, Federal Reserve Chairman Ben Bernanke was to testify before the House of Representatives budget committee. The U.S. was also to produce government data on initial jobless claims.
NZD/USD hit 0.8351 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8337, gaining 0.14%.
The pair was likely to find support at 0.8292, the low of September 5 and resistance at 0.8416, the high of August 24.
The risk-related kiwi found support amid rumors that Greece's long-delayed deal with private sector creditors to cut its debt was nearly finalized. However, investors remained concerned that a debt swap deal will not go far enough to reduce the country’s debt load.
Meanwhile, markets were also eyeing Spanish and French government bond auctions later in the day. Spain was to offer as much as EUR4.5 billion in short to medium term debt and France was offering up to EUR8 billion.
Recent successful debt auctions showed the European Central Bank's injection of nearly half a trillion euros helped bolster demand.
The kiwi was moderately lower against the Australian dollar with AUD/NZD edging up 0.10%, to hit 1.2867.
Earlier Thursday, official data showed that Australia’s trade surplus rose unexpectedly to AUD1.71 billion in December from a surplus of AUD1.34 billion the previous month.
Later in the day, Federal Reserve Chairman Ben Bernanke was to testify before the House of Representatives budget committee. The U.S. was also to produce government data on initial jobless claims.