Investing.com - The New Zealand dollar rose to a two-month high against its U.S. counterpart on Tuesday, as market sentiment improved ahead of a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day.
NZD/USD hit 0.7944 during late Asian trade, the pair’s highest since November 9; the pair subsequently consolidated at 0.7925, climbing 0.67%.
The pair was likely to find support at 0.7792, the low of January 5 and resistance at 0.8010, the high of October 26.
After meeting with French President Nicolas Sarkozy in Berlin on Monday, Angela Merkel warned Greece that it would not be possible to give further financial aid without swift progress on its second rescue package, including a voluntary write-down on Greek debt held by private creditors.
Merkel also said she was optimistic that the European Union will be able to sign off its fiscal pact by the end of January.
Meanwhile, concerns over weakness in the euro zone banking sector continued after a report on Monday showed that overnight deposits at the European Central Bank hit a fresh record of EUR464 billion, indicating that banks in the region remain unwilling to lend to each other.
Elsewhere, the kiwi was higher against the euro with EUR/NZD shedding 0.63%, to hit 1.6110.
In New Zealand, official data showed earlier that building consents fell 6.4% in November after a 10.7% increase the previous month.
NZD/USD hit 0.7944 during late Asian trade, the pair’s highest since November 9; the pair subsequently consolidated at 0.7925, climbing 0.67%.
The pair was likely to find support at 0.7792, the low of January 5 and resistance at 0.8010, the high of October 26.
After meeting with French President Nicolas Sarkozy in Berlin on Monday, Angela Merkel warned Greece that it would not be possible to give further financial aid without swift progress on its second rescue package, including a voluntary write-down on Greek debt held by private creditors.
Merkel also said she was optimistic that the European Union will be able to sign off its fiscal pact by the end of January.
Meanwhile, concerns over weakness in the euro zone banking sector continued after a report on Monday showed that overnight deposits at the European Central Bank hit a fresh record of EUR464 billion, indicating that banks in the region remain unwilling to lend to each other.
Elsewhere, the kiwi was higher against the euro with EUR/NZD shedding 0.63%, to hit 1.6110.
In New Zealand, official data showed earlier that building consents fell 6.4% in November after a 10.7% increase the previous month.