Investing.com - The New Zealand dollar climbed higher against its U.S. counterpart in light trade on Monday, as demand for the greenback remained under pressure after the release of disappointing U.S. economic growth data on Friday.
NZD/USD hit 0.8530 during late Asian trade, the session high; the pair subsequently consolidated at 0.8521, gaining 0.46%.
The pair was likely to find support at 0.8471, the low of April 26 and resistance at 0.8562, the high of April 15.
The Commerce Department said U.S. gross domestic product expanded by 2.5% in the three months to March, missing expectations for growth of 3.0%.
The disappointing data added to expectations that the Federal Reserve will continue its monetary easing program, amid lingering concerns over the outlook for the U.S. economic recovery.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.01%, to hit 1.2122.
Later in the day, the U.S. was to release a report on pending home sales.
NZD/USD hit 0.8530 during late Asian trade, the session high; the pair subsequently consolidated at 0.8521, gaining 0.46%.
The pair was likely to find support at 0.8471, the low of April 26 and resistance at 0.8562, the high of April 15.
The Commerce Department said U.S. gross domestic product expanded by 2.5% in the three months to March, missing expectations for growth of 3.0%.
The disappointing data added to expectations that the Federal Reserve will continue its monetary easing program, amid lingering concerns over the outlook for the U.S. economic recovery.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.01%, to hit 1.2122.
Later in the day, the U.S. was to release a report on pending home sales.