Investing.com – The New Zealand dollar trimmed losses against the U.S. dollar on Thursday, but gains were limited as markets remained cautious after Standard & Poor’s cut Japan’s sovereign credit rating.
NZD/USD clawed back up from 0.7627, the daily low, to hit 0.7713 during European morning trade, shedding 0.14%.
The pair was likely to find support at 0.764, Wednesday’s low and resistance at 0.7786, the high of January 19.
Earlier Thursday, S&P downgraded Japan's long-term sovereign debt one notch from AA to AA-, citing the country's rising fiscal deficits, sparking a broad rise in the U.S. dollar.
The kiwi had earlier risen to a six-day high after New Zealand’s central bank left its benchmark interest rate unchanged at 3.0%, saying “forward indicators of activity have firmed somewhat”.
Meanwhile, the kiwi was higher against the yen, with NZD/JPY climbing 0.58% to hit 63.84.
Later in the day, the U.S. was to publish official data on initial jobless claims, as well as reports on durable goods orders and pending home sales.
NZD/USD clawed back up from 0.7627, the daily low, to hit 0.7713 during European morning trade, shedding 0.14%.
The pair was likely to find support at 0.764, Wednesday’s low and resistance at 0.7786, the high of January 19.
Earlier Thursday, S&P downgraded Japan's long-term sovereign debt one notch from AA to AA-, citing the country's rising fiscal deficits, sparking a broad rise in the U.S. dollar.
The kiwi had earlier risen to a six-day high after New Zealand’s central bank left its benchmark interest rate unchanged at 3.0%, saying “forward indicators of activity have firmed somewhat”.
Meanwhile, the kiwi was higher against the yen, with NZD/JPY climbing 0.58% to hit 63.84.
Later in the day, the U.S. was to publish official data on initial jobless claims, as well as reports on durable goods orders and pending home sales.