Investing.com - The New Zealand dollar rose against its U.S. counterpart on Wednesday, supported by upbeat business confidence data from New Zealand, while investors eyed monthly policy statements from both the Federal Reserve and the Reserve Bank of New Zealand later in the day.
NZD/USD hit 0.7944 during late Asian trade, the session high; the pair subsequently consolidated at 0.7940, rising 0.30%.
The pair was likely to find support at 0.7837, the low of November 27 and resistance at 0.7992, the high of October 22.
Data earlier showed that the ANZ business confidence index for New Zealand climbed to 26.5 this month from a reading of 13.4 in September.
Investors were looking ahead to the conclusion of the Fed's two day policy meeting later Wednesday, amid concerns that slowing growth in Europe and China could prompt the U.S. central bank to stick to its cautious outlook on monetary policy.
The Fed was likely to announce the conclusion of its asset purchasing stimulus program, known as quantitative easing, but was also expected to reassure markets that interest rates will remain on hold for some time to come.
The RBNZ was expected to leave interest rates on hold at 3.50%.
The kiwi was higher against the euro, with EUR/NZD shedding 0.24% to 1.6045.