Investing.com - The New Zealand dollar fell against its U.S. counterpart on Monday, as investors locked in profits after the kiwi hit a more than one-year high against the greenback, while markets continued to focus on U.S. budget talks.
NZD/USD hit 0.8431 during late Asian trade, the session low; the pair subsequently consolidated at 0.8437, falling 0.31%.
The pair was likely to find support and resistance at 0.8546, the high of September 2, 2011.0.8422, the low of December 13.
Sentiment strengthened at the end of last week, amid signs of headway in dealing with the debt crisis in the region after finance ministers agreed a deal on rules for supervising banks.
Ministers also released EUR49.1 billion of financial aid for Greece, after the country completed a scheme to buy back its debt from private investors last week.
Meanwhile, investor focus shifted back to negotiations to avoid the U.S. fiscal cliff following the central bank announcement, amid concerns that the automatic tax hikes and spending cuts due to take effect on January 1st could derail the U.S. recovery.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.02%, to hit 1.2487.
Later in the day, the U.S. was to publish official data on manufacturing activity in New York State, as well as a report on the balance of domestic and foreign investment in U.S. securities.
NZD/USD hit 0.8431 during late Asian trade, the session low; the pair subsequently consolidated at 0.8437, falling 0.31%.
The pair was likely to find support and resistance at 0.8546, the high of September 2, 2011.0.8422, the low of December 13.
Sentiment strengthened at the end of last week, amid signs of headway in dealing with the debt crisis in the region after finance ministers agreed a deal on rules for supervising banks.
Ministers also released EUR49.1 billion of financial aid for Greece, after the country completed a scheme to buy back its debt from private investors last week.
Meanwhile, investor focus shifted back to negotiations to avoid the U.S. fiscal cliff following the central bank announcement, amid concerns that the automatic tax hikes and spending cuts due to take effect on January 1st could derail the U.S. recovery.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.02%, to hit 1.2487.
Later in the day, the U.S. was to publish official data on manufacturing activity in New York State, as well as a report on the balance of domestic and foreign investment in U.S. securities.