Investing.com - The New Zealand dollar rose against its U.S. counterpart on Thursday, despite the release of downbeat New Zealand trade balance numbers, as demand for the greenback eased after rising broadly amid hopes for a U.S. rate hike before the year-end.
NZD/USD hit 0.6308 during late Asian trade, the session high; the pair subsequently consolidated at 0.6294, rising 0.26%.
The pair was likely to find support at 0.6233, Wednesday's low and a six-year low and resistance at 0.6405, the high of September 21.
Statistics New Zealand reported on Thursday that the country's trade deficit widened to NZ$1,035 million in August from NZ$649 million the previous month. Analysts had expected the trade deficit to widen to NZ$850 million last month.
The greenback had strengthened after comments by some Federal Reserve officials Monday night indicated that a U.S. rate hike is still on the cards this year.
St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart indicated in separate remarks that the U.S. central bank is still likely to raise short-term interest rates this year.
Investors were now looking ahead to a speech by Fed Chair Janet Yellen later in the day for additional clarity on the bank’s decision last week to leave interest rates on hold.
The kiwi was also higher against the euro, with EUR/NZD slipping 0.17% to 1.7785.