Investing.com - The New Zealand dollar rose against its U.S. counterpart on Monday, but gains were capped as growing speculation over a near-term end to the Federal Reserve's asset purchase program lent support to the greenback.
NZD/USD hit 0.8128 during late Asian trade, the session high; the pair subsequently consolidated at 0.8115, advancing 0.59%.
The pair was likely to find support at 0.8061, Friday's low and an eight-month low and resistance at 0.8171, Friday's high.
The greenback found broad support on Friday after data showed that U.S. consumer sentiment rose more than expected in May, climbing to an almost six year high.
The University of Michigan said its consumer sentiment index jumped to 83.7 in May, its highest level since 2007, from 76.4 in the preceding month, outstripping expectations for a reading of 78.0.
The strong data fuelled speculation over a possible near-term exit from the U.S. central bank’s asset purchase program.
The New Zealand dollar was higher against the Australian dollar with AUD/NZD shedding 0.35%, to hit 1.2025.
NZD/USD hit 0.8128 during late Asian trade, the session high; the pair subsequently consolidated at 0.8115, advancing 0.59%.
The pair was likely to find support at 0.8061, Friday's low and an eight-month low and resistance at 0.8171, Friday's high.
The greenback found broad support on Friday after data showed that U.S. consumer sentiment rose more than expected in May, climbing to an almost six year high.
The University of Michigan said its consumer sentiment index jumped to 83.7 in May, its highest level since 2007, from 76.4 in the preceding month, outstripping expectations for a reading of 78.0.
The strong data fuelled speculation over a possible near-term exit from the U.S. central bank’s asset purchase program.
The New Zealand dollar was higher against the Australian dollar with AUD/NZD shedding 0.35%, to hit 1.2025.