Investing.com - The New Zealand dollar held steady against its U.S. counterpart on Wednesday, as demand for the greenback remained broadly supported amid growing expectations for a December rate hike by the Federal Reserve.
NZD/USD hit 0.6490 during late Asian trade, the session high; the pair subsequently consolidated at 0.6475.
The pair was likely to find support at 0.6430, the low of December 5 and resistance at 0.6585, the high of November 16.
The greenback remained supported after the U.S. Commerce Department reported on Tuesday that consumer prices increased by 0.2% last month, matching forecasts. Year-over-year, consumer prices were 0.2% higher from the same month a year earlier.
Core consumer prices, which exclude food and energy costs, increased by 0.2%, meeting expectations.
The upbeat data added to expectations that the Federal Reserve will hike interest rates as soon as next month.
The kiwi was higher against the Australian dollar, with AUD/NZD sliding 0.31% to 1.0957.
In Australia, data on Wednesday showed that wage prices rose 0.6% in the third quarter, in line with expectations and after a 0.6% gain the previous month.