Investing.com – New Zealand’s dollar was down against its U.S. counterpart on Thursday, falling to hit a fresh 4-day low, after New Zealand’s central bank left its benchmark interst rate unchnaged.
NZD/USD hit 0.7228 during early European trade, the pair’s lowest since September 10; the pair subsequently consolidated at 0.7244, tumbling 0.96%.
The pair was likely to find support at 0.7158, the low of September 8, and resistance at 0.7393, the high of September 14.
Earlier in the day, the Reserve Bank of New Zealand said in a statement that it was leaving its overnight cash rate unchanged at 3.00%, in line with expectations.
Commenting on the decision RBNZ Governor Alan Bollard said "the outlook has weakened since our June statement," adding that the recent earthquake had significantly disrupted economic activity and was likely to do so for some time.
He also noted that the pace of global economic growth appeared to have slowed, with U.S. growth indicators "deteriorating noticeably."
The kiwi was also down against the euro, with EUR/NZD soaring 1.04% to hit 1.7970.
Later in the day, the U.S. was to release key data on initial jobless claims and producer price inflation.
NZD/USD hit 0.7228 during early European trade, the pair’s lowest since September 10; the pair subsequently consolidated at 0.7244, tumbling 0.96%.
The pair was likely to find support at 0.7158, the low of September 8, and resistance at 0.7393, the high of September 14.
Earlier in the day, the Reserve Bank of New Zealand said in a statement that it was leaving its overnight cash rate unchanged at 3.00%, in line with expectations.
Commenting on the decision RBNZ Governor Alan Bollard said "the outlook has weakened since our June statement," adding that the recent earthquake had significantly disrupted economic activity and was likely to do so for some time.
He also noted that the pace of global economic growth appeared to have slowed, with U.S. growth indicators "deteriorating noticeably."
The kiwi was also down against the euro, with EUR/NZD soaring 1.04% to hit 1.7970.
Later in the day, the U.S. was to release key data on initial jobless claims and producer price inflation.