Investing.com - The New Zealand dollar rallied against its U.S. counterpart on Monday, as market sentiment found support amid new hopes of progress in Greece, easing speculation that the country may be forced out of the euro zone.
NZD/USD hit 0.7633 during late Asian trade, the pair’s highest since May 22; the pair subsequently consolidated at 0.7638, jumping 1.31%.
The pair was likely to find support at 0.7540, the low of May 21 and resistance at 0.7673, the high of May 22.
Sentiment strengthened after opinion polls on Sunday showed that Greece's conservative party New Democracy swung into first place ahead of next month's elections, as the country's socialists claimed that European leaders are warming to the idea that bailout terms for Athens should be softened to ease pressure on the economy.
Uncertainty remained however, as talk of contingency plans have emerged in case Greece leaves the euro zone, posing severe contagion risks to the whole monetary union.
Elsewhere, the kiwi was fractionally higher against the Australian dollar with AUD/NZD edging down 0.09%, to hit 1.2933.
Also Monday, Reserve Bank of Australia Governor Glenn Stevens said in a speech earlier that, besides the debt crisis in the euro zone, China’s slowing growth poses a threat to the Australian economy and must be closely monitored.
Markets in the U.S. were to remain closed for the Memorial Day holiday.
NZD/USD hit 0.7633 during late Asian trade, the pair’s highest since May 22; the pair subsequently consolidated at 0.7638, jumping 1.31%.
The pair was likely to find support at 0.7540, the low of May 21 and resistance at 0.7673, the high of May 22.
Sentiment strengthened after opinion polls on Sunday showed that Greece's conservative party New Democracy swung into first place ahead of next month's elections, as the country's socialists claimed that European leaders are warming to the idea that bailout terms for Athens should be softened to ease pressure on the economy.
Uncertainty remained however, as talk of contingency plans have emerged in case Greece leaves the euro zone, posing severe contagion risks to the whole monetary union.
Elsewhere, the kiwi was fractionally higher against the Australian dollar with AUD/NZD edging down 0.09%, to hit 1.2933.
Also Monday, Reserve Bank of Australia Governor Glenn Stevens said in a speech earlier that, besides the debt crisis in the euro zone, China’s slowing growth poses a threat to the Australian economy and must be closely monitored.
Markets in the U.S. were to remain closed for the Memorial Day holiday.