Forex - NZD/USD hits 2-day high as Greece default fears ease
Investing.com
Published Jun 21, 2011 03:08AM ET
NZD/USD hit 0.8134 during late Asian trade, the pair’s highest since last Friday, the pair subsequently consolidated at 0.8123, gaining 0.27%.
The pair was likely to find support at 0.8012, Friday’s low and resistance at 0.8206, the high of June 15.
Market sentiment received a boost after Klaus Regling, chief of the European Financial Stability Facility said Monday that the effective lending capacity of the bailout fund would be raised to EUR 780 billion from EUR440 billion.
Earlier in the day, the minutes of this month’s Reserve Bank of Australia policy meeting said it was “prudent” to keep interest rates unchanged, amid concerns that the sovereign debt crisis in the euro zone could worsen.
The RBA kept its benchmark interest rate unchanged at 4.75% at the June 7 meeting.
The kiwi was also up against its Australian cousin, with AUD/NZD shedding 0.33% to hit 1.3014.
Later Tuesday, the U.S. was to publish industry data on existing home sales.
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Written By: Investing.com
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