Investing.com - The New Zealand dollar dropped to one-and-a-half month lows against its U.S. counterpart on Tuesday, the greenback remained supported ahead of upcoming U.S. economic events, while recent comments by the Reserve Bank of New Zealand continued to weigh.
NZD/USD hit 0.8511 during late Asian trade, the pair's lowest since June 10; the pair subsequently consolidated at 0.8512, retreating 0.41%.
The pair was likely to find support at 0.8494, the low of June 10 and resistance at 0.8561, Monday's high.
Demand for the greenback remained supported ahead of the a U.S. employment report due later in the week and the upcoming Federal Reserve statement on Wednesday. Investors were also awaiting final data on U.S. second-quarter growth on Wednesday.
Meanwhile, the New Zealand dollar remained under broad selling pressure after the Reserve Bank of New Zealand last week raised its benchmark interest rate to 3.50% from 3.25%, but signaled that rates will not go any higher this year.
The kiwi was lower against the Australian dollar, with AUD/NZD rising 0.31% to 1.1039.
Also Tuesday, industry data earlier showed that Australian new home sales rose 1.2% in June, after a 4.3% decline the previous month.
Later in the day, the U.S. was to publish reports on house price inflation and consumer confidence.