Investing.com – New Zealand’s dollar was up against its U.S. counterpart on Thursday, surging to a 2-day high after remarks by the country’s central bank governor, Alan Bollard.
NZD/USD hit 0.7508 during European morning trade, the pair’s highest since Tuesday; the pair subsequently consolidated at 0.7490, gaining 0.49%.
The pair was likely to find support at 0.7404, Wednesday’s low and short-term resistance at 0.7560, the high of October 25.
Earlier in the day, the Reserve Bank of New Zealand kept its official cash rate unchanged at 3.0% for the second consecutive month, in line with expectations.
In a rate statement following the announcement Bollard said, "While it is appropriate to keep the OCR on hold today, it remains likely that further removal of monetary policy support will be required at some stage".
The bank said strong growth in China, Australia and emerging Asian markets would help offset the weak global economy, adding that high export prices and the reconstruction in Canterbury, which was hit by a major earthquake last month, will also support activity.
The kiwi was also up against the euro, with EUR/NZD slipping 0.03% to hit 1.8473.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.
NZD/USD hit 0.7508 during European morning trade, the pair’s highest since Tuesday; the pair subsequently consolidated at 0.7490, gaining 0.49%.
The pair was likely to find support at 0.7404, Wednesday’s low and short-term resistance at 0.7560, the high of October 25.
Earlier in the day, the Reserve Bank of New Zealand kept its official cash rate unchanged at 3.0% for the second consecutive month, in line with expectations.
In a rate statement following the announcement Bollard said, "While it is appropriate to keep the OCR on hold today, it remains likely that further removal of monetary policy support will be required at some stage".
The bank said strong growth in China, Australia and emerging Asian markets would help offset the weak global economy, adding that high export prices and the reconstruction in Canterbury, which was hit by a major earthquake last month, will also support activity.
The kiwi was also up against the euro, with EUR/NZD slipping 0.03% to hit 1.8473.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.