Investing.com - The New Zealand dollar rose to 32-month highs against its U.S. counterpart on Wednesday, as demand for the greenback came under pressure ahead of the Federal Reserve's highly anticipated policy statement, due later in the day.
NZD/USD hit 0.8708 during late Asian trade, the pair's highest since August 2011; the pair subsequently consolidated at 0.8697, rising 0.27%.
The pair was likely to find support at 0.8606, Tuesday's low and resistance at 0.8842.
Investors were eyeing the upcoming minutes of the Fed's March meeting, after last week’s U.S. payrolls report came in slightly below expectations.
Fed Chair Janet Yellen said recently that slack in labor markets showed accommodative policies will still be needed for some time.
The kiwi was higher against the Australian dollar, with AUD/NZD falling 0.21% to 1.0768.
Also Wednesday, official data showed that home loans in Australia rose 2.3% in February, beating expectations for a 2% increase, after a flat reading the previous month.
Separately, the Westpac Banking Corporation said consumer sentiment rose by 0.3% this month, after a 0.7% fall in March.