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Forex - Kiwi trades near 2-1/2 year lows vs. stronger greenback

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Investing.com -

Investing.com - The New Zealand dollar was trading near two-and-a-half year lows against its U.S. counterpart on Monday, as expectations for a U.S. rate hike this year continued to boost demand for the greenback.

NZD/USD hit 0.7620 during late Asian trade, the pair's lowest since December 9; the pair subsequently consolidated at 0.8053, retreating 0.86%.

The pair was likely to find support at 0.7606, the low of December 9 and resistance at 0.7740, the high of December 24.

The greenback remained broadly supported by the diverging monetary policy stance between the Federal Reserve and central banks in Europe and Japan.

A recent string of upbeat U.S. data sparked optimism over the strength of the country's economic recovery and added to expectations for the Fed to soon raise interest rates.

The kiwi was also lower against the Australian dollar, with AUD/NZD rising 0.35% to 1.0542.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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