Investing.com – New Zealand’s dollar surged to a 4-day high against its U.S. counterpart on Tuesday, after comments China’s Vice Premiere made in support of measures by the European Union to address the region's debt crisis.
NZD/USD hit 0.7485 during early European trade, the pair’s highest since December 15; the pair subsequently consolidated at 0.7456, gaining 0.50%.
The pair was likely to find support at 0.7345, Monday’s low and resistance at 0.7521, the high of December 15.
Earlier in the day, Chinese Vice Premier Wang Qishan said that China supported the measures taken by the EU and the International Monetary Fund to bail out certain European countries and stabilize the financial markets. The remarks sparked a short covering rally on the euro in thin pre-holiday trade.
Sentiment was also lifted after South Korean artillery tests conducted Monday didn't provoke a military response from North Korea.
The kiwi was also up against the euro, with EUR/NZD shedding 0.43% to hit 1.7624.
Later in the day, New Zealand was to publish official data on the country’s current account balance.
NZD/USD hit 0.7485 during early European trade, the pair’s highest since December 15; the pair subsequently consolidated at 0.7456, gaining 0.50%.
The pair was likely to find support at 0.7345, Monday’s low and resistance at 0.7521, the high of December 15.
Earlier in the day, Chinese Vice Premier Wang Qishan said that China supported the measures taken by the EU and the International Monetary Fund to bail out certain European countries and stabilize the financial markets. The remarks sparked a short covering rally on the euro in thin pre-holiday trade.
Sentiment was also lifted after South Korean artillery tests conducted Monday didn't provoke a military response from North Korea.
The kiwi was also up against the euro, with EUR/NZD shedding 0.43% to hit 1.7624.
Later in the day, New Zealand was to publish official data on the country’s current account balance.