Forex - NZD/USD near 1-month high after RBNZ holds rates
Published Dec 06, 2012 02:55AM ET
NZD/USD hit 0.8286 during European morning trade, the daily low; the pair subsequently consolidated at 0.8285, dipping 0.04%.
The pair was likely to find support at 0.8238, Wednesday's low and resistance at 0.8338, the high of October 2.
In a widely expected move, the RBNZ held the benchmark interest rate at a record low of 2.50%, earlier in the day.
Commenting on the decision, RBNZ Governor Graeme Wheeler said that "with the reconstruction-driven pick up in investment now clearly under way, the bank will also continue to watch for a greater degree of inflation pressure than is assumed."
Meanwhile, sentiment remained supported by recent signs of progress in dealing with the debt crisis in the region, although concerns over the weak outlook for the euro zone economy persisted.
The kiwi was higher against the euro with EUR/NZD falling 0.25%, to hit 1.5730.
Later in the day, the U.S. was to publish the weekly government report on initial jobless claims.
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Written By: Investing.com
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