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Forex - NZD/USD advances ahead of Fed meeting minutes

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Investing.com -

Investing.com - The New Zealand dollar advanced against its U.S. counterpart on Wednesday, as sentiment on the greenback became vulnerable ahead of the minutes of the Federal Reserve's most recent policy meeting, due later in the day.

NZD/USD hit 0.7552 during late Asian trade, the session high; the pair subsequently consolidated at 0.7540, gaining 0.61%.

The pair was likely to find support at 0.7454, the low of March 31 and resistance at 0.7623, the high of April 6.

Investors were eyeing the Fed's upcoming meeting minutes for indications on the central bank's next policy moves after Friday's downbeat jobs data fuelled uncertainty over the timing of a rate hike.

The Labor Department reported Friday that the U.S. economy added 126,000 new jobs in March, less than half of February's gain and the smallest increase since December 2013.

The kiwi was higher against the Australian dollar, with AUD/NZD edging down 0.12% to 1.0173.

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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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