Investing.com - The New Zealand dollar rose against its U.S. counterpart on Monday, to trade close to three-month highs even after disappointing inflation data from New Zealand, as demand for the greenback remained broadly under pressure.
NZD/USD hit 0.7724 during late Asian trade, the session high; the pair subsequently consolidated at 0.7720, gaining 0.43%.
The pair was likely to find support at 0.7642, the low of April 17 and resistance at 0.7742, the high of April 17 and a three-month high.
Statistics New Zealand earlier reported that consumer prices slipped 0.3% in the first quarter, compared to expectations for a 0.2% downtick and after a 0.2% fall in the three months to December.
Year-over-year, New Zealand consumer prices rose 0.1% in the last quarter, confounding expectations for a 0.2% gain, after a 0.8% increase in the previous quarter.
Meanwhile, the greenback remained under pressure as investors pushed back expectations for higher U.S. interest rates after a recent string of soft economic data dampened optimism on the country's recovery.
The kiwi was also higher against the euro, with EUR/NZD declining 0.60% to 1.3982.