Investing.com - The New Zealand dollar rose to a 2-week high against its U.S. counterpart on Thursday, as expectations for fresh easing measures by the Federal Reserve sent the greenback broadly lower, although the kiwi’s gains were limited by global growth concerns.
NZD/USD hit 0.8187 during late Asian trade, the pair’s highest since August 7; the pair subsequently consolidated at 0.8176, rising 0.44%.
The pair was likely to find support at 0.8097, the low of August 9 and resistance at 0.8222, the high of August 6 and a two-month high.
The U.S. dollar came under broad selling pressure after the minutes of the Fed’s August policy meeting showed that officials remain supportive of more stimulus measures unless the economy shows signs of expansion.
Separately, data showing that manufacturing activity in China fell to a nine-month low in August, added to concerns over a global economic slowdown and limited the kiwi’s gains.
China is New Zealand’s second biggest export partner.
Meanwhile, talks between Greece and its lenders seemed likely to continue well into next month, after German Chancellor Angela Merkel said on Wednesday she and Greek Prime Minister Antonis Samaras will not make any decisions during their talks on Friday.
Merkel added that she would wait for the lenders' report on Greek progress in meeting targets, which is not expected until late September.
Elsewhere, the kiwi was higher against the Australian dollar with AUD/NZD shedding 0.24%, to hit 1.2868.
Later in the day, the U.S. was to release its weekly government report on initial jobless claims, followed by preliminary data on manufacturing activity and official data on new home sales.
NZD/USD hit 0.8187 during late Asian trade, the pair’s highest since August 7; the pair subsequently consolidated at 0.8176, rising 0.44%.
The pair was likely to find support at 0.8097, the low of August 9 and resistance at 0.8222, the high of August 6 and a two-month high.
The U.S. dollar came under broad selling pressure after the minutes of the Fed’s August policy meeting showed that officials remain supportive of more stimulus measures unless the economy shows signs of expansion.
Separately, data showing that manufacturing activity in China fell to a nine-month low in August, added to concerns over a global economic slowdown and limited the kiwi’s gains.
China is New Zealand’s second biggest export partner.
Meanwhile, talks between Greece and its lenders seemed likely to continue well into next month, after German Chancellor Angela Merkel said on Wednesday she and Greek Prime Minister Antonis Samaras will not make any decisions during their talks on Friday.
Merkel added that she would wait for the lenders' report on Greek progress in meeting targets, which is not expected until late September.
Elsewhere, the kiwi was higher against the Australian dollar with AUD/NZD shedding 0.24%, to hit 1.2868.
Later in the day, the U.S. was to release its weekly government report on initial jobless claims, followed by preliminary data on manufacturing activity and official data on new home sales.