Investing.com - The New Zealand dollar rose against its U.S. counterpart on Tuesday, despite disappointing business confidence data out of New Zealand, as sentiment on the greenback remained fragile ahead of the Federal Reserve's meeting minutes due later in the week.
NZD/USD hit 0.8777 during late Asian trade, the pair's highest since July 1; the pair subsequently consolidated at 0.8772, adding 0.17%.
The pair was likely to find support at 0.8714, Monday's low and resistance at 0.8794.
Data earlier showed that the NZIER business confidence index fell to 32 in the second quarter, from a reading of 52 in the three months to April.
Meanwhile, the greenback remained supported after a strong U.S. jobs report last Thursday sparked speculation that the Fed could bring forward its timetable for raising interest rates.
The U.S. economy added a larger-than-forecast 288,000 jobs last month, while the unemployment rate ticked down to 6.1%, the lowest in almost six years.
But investors remained cautious amid expectations that the Fed will stick to its dovish stance on monetary policy amid concerns over ongoing slow growth in inflation and wages.
The kiwi was higher against the euro, with EUR/NZD shedding 0.22% to 1.5497.