Investing.com – New Zealand’s dollar erased losses against its U.S. counterpart on Tuesday, as sentiment on the U.S. dollar weakened ahead of the release of minutes from the Fed’s last policy meeting.
NZD/USD rebounded from 0.7480, the pair’s lowest since October 8 to hit 0.7532 during late European trade, gaining 0.20%.
The pair was likely to find support at 0.7426, the low of October 8 and resistance at 0.7590, the high of October 7 and a 1-year peak.
In their September rate statement, Fed policy makers expressed concern over continuing low levels of inflation and high unemployment, triggering speculation that the bank would begin a fresh round of monetary easing to stimulate the U.S. economy.
Later in the day, the Fed was to publish the minutes of its September 21 meeting of the Federal Open Market Committee.
The kiwi was also up against the euro, with EUR/NZD shedding 0.47% to hit 1.8374.
Also Tuesday, New Zealand was to publish data on food price inflation.
NZD/USD rebounded from 0.7480, the pair’s lowest since October 8 to hit 0.7532 during late European trade, gaining 0.20%.
The pair was likely to find support at 0.7426, the low of October 8 and resistance at 0.7590, the high of October 7 and a 1-year peak.
In their September rate statement, Fed policy makers expressed concern over continuing low levels of inflation and high unemployment, triggering speculation that the bank would begin a fresh round of monetary easing to stimulate the U.S. economy.
Later in the day, the Fed was to publish the minutes of its September 21 meeting of the Federal Open Market Committee.
The kiwi was also up against the euro, with EUR/NZD shedding 0.47% to hit 1.8374.
Also Tuesday, New Zealand was to publish data on food price inflation.