Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Tuesday, as markets were jittery ahead of a highly anticipated policy statement by the Federal Reserve on Wednesday.
NZD/USD hit 0.7973 during late Asian trade, the session low; the pair subsequently consolidated at 0.7979, edging down 0.19%.
The pair was likely to find support at 0.7896, the low of June 13 and resistance at 0.8062, the high of June 5.
Investors remained cautious amid growing expectations that the Federal Reserve will to start to unwind its USD85 billion-a-month bond purchasing program later this year.
In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve.
Investors were looking ahead to the central bank’s rate statement on Wednesday amid uncertainty over the banks next move.
The kiwi was higher against the Australian dollar with AUD/NZD retreating 0.52%, to hit 1.1899.
Also Tuesday, the minutes of the Reserve Bank of Australia's June 4 meeting showed that policymakers said the Aussie may fall further as export prices ease. They also repeated that the bank has room to cut interest rates further.
Later in the day, the U.S. was to release official data on building permits, housing starts and consumer price inflation.
NZD/USD hit 0.7973 during late Asian trade, the session low; the pair subsequently consolidated at 0.7979, edging down 0.19%.
The pair was likely to find support at 0.7896, the low of June 13 and resistance at 0.8062, the high of June 5.
Investors remained cautious amid growing expectations that the Federal Reserve will to start to unwind its USD85 billion-a-month bond purchasing program later this year.
In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve.
Investors were looking ahead to the central bank’s rate statement on Wednesday amid uncertainty over the banks next move.
The kiwi was higher against the Australian dollar with AUD/NZD retreating 0.52%, to hit 1.1899.
Also Tuesday, the minutes of the Reserve Bank of Australia's June 4 meeting showed that policymakers said the Aussie may fall further as export prices ease. They also repeated that the bank has room to cut interest rates further.
Later in the day, the U.S. was to release official data on building permits, housing starts and consumer price inflation.