Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Monday, as the greenback remained under pressure amid growing speculation that the Federal Reserve will not scale back its stimulus program this year.
NZD/USD hit 0.8314 during late Asian trade, the session high; the pair subsequently consolidated at 0.8307, rising 0.34%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8381, the high of October 14.
The greenback remained under broad selling pressure as investors looked ahead to the Federal Reserve’s upcoming policy meeting later in the week, amid expectations that the central bank will delay plans to start tapering stimulus until well into next year.
Data on Friday showed that an index of U.S. consumer sentiment was revised down to a 10-month low in October on concerns over the economic impact of the recent 16-day government shutdown.
The kiwi was fractionally higher against the Australian dollar with AUD/NZD edging down 0.08, to hit 1.1564.
Later in the day, the U.S. was to release official data on industrial production, as well as a report on pending home sales.
NZD/USD hit 0.8314 during late Asian trade, the session high; the pair subsequently consolidated at 0.8307, rising 0.34%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8381, the high of October 14.
The greenback remained under broad selling pressure as investors looked ahead to the Federal Reserve’s upcoming policy meeting later in the week, amid expectations that the central bank will delay plans to start tapering stimulus until well into next year.
Data on Friday showed that an index of U.S. consumer sentiment was revised down to a 10-month low in October on concerns over the economic impact of the recent 16-day government shutdown.
The kiwi was fractionally higher against the Australian dollar with AUD/NZD edging down 0.08, to hit 1.1564.
Later in the day, the U.S. was to release official data on industrial production, as well as a report on pending home sales.