Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Thursday, as the greenback found broad support after the Federal Reserve said its monetary policy will stay loose.
NZD/USD hit 0.8481 during late Asian trade, the pair's lowest since April 26; the pair subsequently consolidated at 0.8483, slipping 0.19%.
The pair was likely to find support at 0.8428, the low of April 17 and resistance at 0.8538, the high of April 26.
At the end of its two-day policy meeting on Wednesday, the Federal Reserve recommitted to its USD85 billion a month asset purchase program and indicated that it could increase or decrease the monthly amount as deemed necessary.
"The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes," the Fed statement said.
Investors were also looking ahead to Friday’s data on U.S. nonfarm payrolls after the ADP jobs report fell short of expectations on Wednesday, adding to concerns over the economic recovery.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.23%, to hit 1.2062.
Also Thursday, official data showed that building approvals in Australia dropped 5.5% in March, confounding expectations for a 1.3% increase, after a 3.0% rise the previous month.
Later in the day, the U.S. was to publish the weekly government report on initial jobless claims and official data on the trade balance.
NZD/USD hit 0.8481 during late Asian trade, the pair's lowest since April 26; the pair subsequently consolidated at 0.8483, slipping 0.19%.
The pair was likely to find support at 0.8428, the low of April 17 and resistance at 0.8538, the high of April 26.
At the end of its two-day policy meeting on Wednesday, the Federal Reserve recommitted to its USD85 billion a month asset purchase program and indicated that it could increase or decrease the monthly amount as deemed necessary.
"The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes," the Fed statement said.
Investors were also looking ahead to Friday’s data on U.S. nonfarm payrolls after the ADP jobs report fell short of expectations on Wednesday, adding to concerns over the economic recovery.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.23%, to hit 1.2062.
Also Thursday, official data showed that building approvals in Australia dropped 5.5% in March, confounding expectations for a 1.3% increase, after a 3.0% rise the previous month.
Later in the day, the U.S. was to publish the weekly government report on initial jobless claims and official data on the trade balance.