Investing.com - The New Zealand dollar rose to one-and-a-half month highs against its U.S. counterpart on Thursday, as Wednesday's downbeat U.S. economic growth data still dampened demand for the greenback.
NZD/USD hit 0.8773 during late Asian trade, the pair's highest since May 6; the pair subsequently consolidated at 0.8771, gaining 0.38%.
The pair was likely to find support at 0.8704, the low of June 19 and resistance at 0.8780.
The greenback came under pressure after the Commerce Department on Wednesday said gross domestic product contracted at an annual rate of 2.9% in the first three months of the year, compared to the consensus forecast for a decline of 1.7%.
U.S. first quarter GDP was initially reported to have increased by 0.1%, but was subsequently revised to show a contraction of 1.0%.
The difference between the second and third estimate was the largest since records began in 1976, the Commerce Department said.
A separate report showed that U.S. durable goods orders fell 1.0% in May, the first decline in four months.
The kiwi was also higher against the Australian dollar, with AUD/NZD shedding 0.31% to 1.0731.
Later in the day, he U.S. was to release data on personal income and expenditure, as well as data on inflation linked to personal spending.