Investing.com - The New Zealand dollar rose to nearly two-week highs against its U.S. counterpart on Wednesday, boosted by upbeat New Zealand employment data, although expectations for the Federal Reserve to soon begin scaling back its stimulus program supported the greenback.
NZD/USD hit 0.8402 during late Asian trade, the pair's highest since October 24; the pair subsequently consolidated at 0.8383, adding 0.23%.
The pair was likely to find support at 0.8260, Tuesday's low and resistance at 0.8446, the high of October 24.
Official data showed that the number of employed people in New Zealand rose 1.2% in the third quarter, beating expectations for a 0.5% uptick, after a 0.4% increase in the three months to June.
The report also showed that New Zealand's unemployment rate fell to 6.2% in the last quarter, from 6.4% in the previous quarter, in line with expectations.
Meanwhile, the greenback remained supported after data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Federal Reserve could start scaling back stimulus as soon as next month.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.22%, to hit 1.1349.
NZD/USD hit 0.8402 during late Asian trade, the pair's highest since October 24; the pair subsequently consolidated at 0.8383, adding 0.23%.
The pair was likely to find support at 0.8260, Tuesday's low and resistance at 0.8446, the high of October 24.
Official data showed that the number of employed people in New Zealand rose 1.2% in the third quarter, beating expectations for a 0.5% uptick, after a 0.4% increase in the three months to June.
The report also showed that New Zealand's unemployment rate fell to 6.2% in the last quarter, from 6.4% in the previous quarter, in line with expectations.
Meanwhile, the greenback remained supported after data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Federal Reserve could start scaling back stimulus as soon as next month.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.22%, to hit 1.1349.