Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Forex - Kiwi declines against greenback in late trade

Published 11/23/2015, 02:24 AM
Updated 11/23/2015, 02:24 AM
Kiwi drops sharply vs. stronger greenback

Investing.com - The New Zealand dollar declined against its U.S. counterpart on Monday, as heightened expectations for a U.S. rate hike before the end of the year continued to lend broad support to the greenback.

NZD/USD hit 0.6502 during late Asian trade, the pair's lowest since November 19; the pair subsequently consolidated at 0.6505, down 0.93%.

The pair was likely to find support at 0.6463, the low of November 19 and resistance at 0.6608, Friday's high.

Demand for the U.S. dollar continued to be underpinned by expectations that he Federal Reserve is on track to raise interest rates next month.

New York Fed President William Dudley said Friday that there is a "strong case" for hiking rates at the central bank’s next meeting in December as long as economic data continues to remain solid.

Higher U.S. interest rates would make the greenback more attractive to yield-seeking investors.

The kiwi was steady against the Australian dollar, with AUD/NZD at 1.1024.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.