Investing.com - The New Zealand dollar rose to a two-week high against its U.S. counterpart on Thursday, after the Reserve Bank of New Zealand left interest rates unchanged, while the Federal Reserve said Wednesday that some aspects of the U.S. economy were improving.
NZD/USD hit 1.8235 during European morning trade, the pair's highest since October 9; the pair subsequently consolidated at 0.8238, climbing 0.41%.
The pair was likely to find support at 0.8177, the low of October 18 and resistance at 0.8266, the high of October 5.
In a widely expected move, the RBNZ held the benchmark interest rate at 2.5%, marking Governor Graeme Wheeler's first decision as head of the central bank, after replacing Alan Bollard in late September.
Meanwhile, the Fed said, in its rate statement on Wednesday, that the U.S. economy is improving moderately, but said job growth has been slow and the unemployment rate remains elevated.
The central bank also said it planned to keep its benchmark short-term rate close to zero through mid-2015.
Investors remained cautious however amid ongoing uncertainty over whether Spain is moving closer to formally requesting a bailout from its euro zone partners and activating the European Central Bank’s bond purchasing plan.
Elsewhere, the kiwi was higher against the euro with EUR/NZD edging down 0.13%, to hit 1.5794.
Later in the day, the U.S. was to release official data on durable goods orders, as well as reports on pending home sales and initial jobless claims.
NZD/USD hit 1.8235 during European morning trade, the pair's highest since October 9; the pair subsequently consolidated at 0.8238, climbing 0.41%.
The pair was likely to find support at 0.8177, the low of October 18 and resistance at 0.8266, the high of October 5.
In a widely expected move, the RBNZ held the benchmark interest rate at 2.5%, marking Governor Graeme Wheeler's first decision as head of the central bank, after replacing Alan Bollard in late September.
Meanwhile, the Fed said, in its rate statement on Wednesday, that the U.S. economy is improving moderately, but said job growth has been slow and the unemployment rate remains elevated.
The central bank also said it planned to keep its benchmark short-term rate close to zero through mid-2015.
Investors remained cautious however amid ongoing uncertainty over whether Spain is moving closer to formally requesting a bailout from its euro zone partners and activating the European Central Bank’s bond purchasing plan.
Elsewhere, the kiwi was higher against the euro with EUR/NZD edging down 0.13%, to hit 1.5794.
Later in the day, the U.S. was to release official data on durable goods orders, as well as reports on pending home sales and initial jobless claims.