Investing.com - The New Zealand dollar rose to nearly one-month highs against its U.S. counterpart on Thursday, after the Reserve Bank of New Zealand left interest rates unchanged and said increases are to be expected next year.
NZD/USD hit 0.8151 during late Asian trade, the pair's highest since August 19; the pair subsequently consolidated at 0.8134, gaining 0.65%.
The pair was likely to find support at 0.8038, the low of September 11 and resistance at 0.8272, the high of May 16.
In a widely expected move, the RBNZ held its benchmark interest rate at a record-low 2.50% but added that increases “will likely be required next year” as the economy strengthens and inflation picks up.
Meanwhile, demand for the greenback remained under pressure after data last week showed that U.S. the economy added slightly fewer jobs than expected in August.
The soft data raised some doubts over whether the Federal Reserve will start to unwind its USD85 billion-a-month asset purchase program at its upcoming policy meeting on September 17-18.
The kiwi was higher against the euro with EUR/NZD retreating 0.70%, to hit 1.6358.
Later in the day, the U.S. was to release data on jobless claims.
NZD/USD hit 0.8151 during late Asian trade, the pair's highest since August 19; the pair subsequently consolidated at 0.8134, gaining 0.65%.
The pair was likely to find support at 0.8038, the low of September 11 and resistance at 0.8272, the high of May 16.
In a widely expected move, the RBNZ held its benchmark interest rate at a record-low 2.50% but added that increases “will likely be required next year” as the economy strengthens and inflation picks up.
Meanwhile, demand for the greenback remained under pressure after data last week showed that U.S. the economy added slightly fewer jobs than expected in August.
The soft data raised some doubts over whether the Federal Reserve will start to unwind its USD85 billion-a-month asset purchase program at its upcoming policy meeting on September 17-18.
The kiwi was higher against the euro with EUR/NZD retreating 0.70%, to hit 1.6358.
Later in the day, the U.S. was to release data on jobless claims.