Investing.com - The New Zealand dollar edged higher against its U.S. counterpart on Monday, but gains were capped as expectations for the Federal Reserve to begin scaling back its stimulus program in the near future continued to support the greenback.
NZD/USD hit 0.8230 during late Asian trade, the session high; the pair subsequently consolidated at 0.8201, adding 0.23%.
The pair was likely to find support at 0.8124, the low of November 22 and a 10-week low and resistance at 0.8272, the high of November 21.
The greenback remained supported after last week’s minutes of the Fed’s October meeting said the bank could start tapering its USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected.
The kiwi was higher against the Australian dollar with AUD/NZD retreating 0.54%, to hit 1.1138.
The Aussie remained under pressure after Reserve Bank of Australia Governor Glenn Stevens last Thursday said the central bank was "open-minded" about intervention to weaken the currency.
Later in the day, the U.S. was to release private sector data on pending home sales.
NZD/USD hit 0.8230 during late Asian trade, the session high; the pair subsequently consolidated at 0.8201, adding 0.23%.
The pair was likely to find support at 0.8124, the low of November 22 and a 10-week low and resistance at 0.8272, the high of November 21.
The greenback remained supported after last week’s minutes of the Fed’s October meeting said the bank could start tapering its USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected.
The kiwi was higher against the Australian dollar with AUD/NZD retreating 0.54%, to hit 1.1138.
The Aussie remained under pressure after Reserve Bank of Australia Governor Glenn Stevens last Thursday said the central bank was "open-minded" about intervention to weaken the currency.
Later in the day, the U.S. was to release private sector data on pending home sales.