Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Tuesday, despite upbeat New Zealand business confidence data as sustained concerns over the consequences of the current U.S. government shutdown weighed.
NZD/USD hit 0.8270 during late Asian trade, the pair's lowest since October 2; the pair subsequently consolidated at 0.8292, falling 0.14%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8351, the high of October 4.
In a report, the New Zealand Institute of Economic Research said its business confidence index rose to 38 in the third quarter, from a reading of 32 in the three months to June.
Meanwhile, investors remained cautious, although new hopes on the U.S. budget front emerged after President Barack Obama said on Monday that he would accept a short-term increase in the nation's borrowing authority to avoid a default.
In addition, a U.S. Senator reportedly mentioned a plan to cut federal spending and reform the U.S. tax code as part of a broader deal.
The news came after Republican House Speaker John Boehner on Sunday said the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless the Obama administration agrees to talks aimed at reducing the deficit.
The kiwi was lower against the Australian dollar with AUD/NZD rising 0.30%, to hit 1.1387.
Also Tuesday, the National Australia Bank said its business confidence index rose to 12 in September, from a downwardly revised reading of 4 the previous month.
A separate report showed that job advertisements in Australia rose 0.2% last month, following a 2% decline in August.
NZD/USD hit 0.8270 during late Asian trade, the pair's lowest since October 2; the pair subsequently consolidated at 0.8292, falling 0.14%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8351, the high of October 4.
In a report, the New Zealand Institute of Economic Research said its business confidence index rose to 38 in the third quarter, from a reading of 32 in the three months to June.
Meanwhile, investors remained cautious, although new hopes on the U.S. budget front emerged after President Barack Obama said on Monday that he would accept a short-term increase in the nation's borrowing authority to avoid a default.
In addition, a U.S. Senator reportedly mentioned a plan to cut federal spending and reform the U.S. tax code as part of a broader deal.
The news came after Republican House Speaker John Boehner on Sunday said the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless the Obama administration agrees to talks aimed at reducing the deficit.
The kiwi was lower against the Australian dollar with AUD/NZD rising 0.30%, to hit 1.1387.
Also Tuesday, the National Australia Bank said its business confidence index rose to 12 in September, from a downwardly revised reading of 4 the previous month.
A separate report showed that job advertisements in Australia rose 0.2% last month, following a 2% decline in August.