Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Monday, as market sentiment waned on reports of the death of North-Korean leader Kim Jong il.
NZD/USD hit 0.7568 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7593, shedding 0.38%.
The pair was likely to find support at 0.7486, the low of December 14 and resistance at 0.7722, the high of November 16.
Concerns over geopolitical instability in northeast Asia escalated amid uncertainty over the future leadership of North Korea, sending the dollar broadly higher.
Market sentiment also weakened after Fitch ratings agency warned on Friday it may downgrade France and six other euro zone countries as it believes that a comprehensive solution to the region's debt crisis is "technically and politically beyond reach."
Meanwhile, investors eyed a conference call of euro zone finance ministers later in the day about the draft text of a new fiscal plan agreed earlier this month. Talks were also to include the size of individual loans to the International Monetary Fund.
Earlier Monday, the National Bank of New Zealand said that its index of business confidence declined to 16.9 in December from a reading at 18.3 the previous month.
The kiwi was fractionally lower against the euro with EUR/NZD inching up 0.05%, to hit 1.7134.
Also Monday, data showed that the Westpac Banking Corporation’s index of consumer sentiment in New Zealand declined in the fourth quarter on concern the European debt crisis may lead to a global economic slowdown.
NZD/USD hit 0.7568 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7593, shedding 0.38%.
The pair was likely to find support at 0.7486, the low of December 14 and resistance at 0.7722, the high of November 16.
Concerns over geopolitical instability in northeast Asia escalated amid uncertainty over the future leadership of North Korea, sending the dollar broadly higher.
Market sentiment also weakened after Fitch ratings agency warned on Friday it may downgrade France and six other euro zone countries as it believes that a comprehensive solution to the region's debt crisis is "technically and politically beyond reach."
Meanwhile, investors eyed a conference call of euro zone finance ministers later in the day about the draft text of a new fiscal plan agreed earlier this month. Talks were also to include the size of individual loans to the International Monetary Fund.
Earlier Monday, the National Bank of New Zealand said that its index of business confidence declined to 16.9 in December from a reading at 18.3 the previous month.
The kiwi was fractionally lower against the euro with EUR/NZD inching up 0.05%, to hit 1.7134.
Also Monday, data showed that the Westpac Banking Corporation’s index of consumer sentiment in New Zealand declined in the fourth quarter on concern the European debt crisis may lead to a global economic slowdown.