Investing.com - The New Zealand dollar rose against its U.S. counterpart on Wednesday, pulling away from two-week lows despite the release of disappointing New Zealand inflation data.
NZD/USD hit 0.7783 during late Asian trade, the session high; the pair subsequently consolidated at 0.7667, gaining 0.35%.
The pair was likely to find support at 0.7620, Tuesday's low and a two-week low and resistance at 0.7781, the high of January 14.
Earlier Wednesday, Statistics New Zealand reported that consumer price inflation fell 0.2% in the fourth quarter, compared to expectations for a flat reading, after a 0.3% rise in the three months to September.
The data came a day after the New Zealand Institute of Economic Research said its business confidence index rose to 23 in the fourth quarter from a reading of 19 in the three months to September.
The kiwi was also higher against the euro, with EUR/NZD shedding 0.29% to 1.5087.
Later in the day, the U.S. was to release data on building permits and housing starts.