(MENAFN- FxPro) The New Zealand dollar climbed against its U.S. counterpart on Tuesday, as uncertainty ahead of the Federal Reserve's monthly policy statement on Wedneday weighed on demand for the greenback.
NZD/USD hit 0.6676 during late Asian trade, the pair's highest since July 23; the pair subsequently consolidated at 0.7107, advancing 0.91%.
The pair was likely to find support at 0.6572, Monday's low and resistance at 0.6697, the high of July 23.
Investors were turning their attention to Wednesday's Fed statement to see if policymakers will give any indication on the timing of a rate hike.
On Friday, the Fed mistakenly published a staff projection pointing to a quarter point rate hike later this year.
The dollar has been boosted in recent weeks by mounting expectations that the U.S. central bank could raise rates as soon as September if the economy continues to improve as expected.
The kiwi was higher against the Australian dollar, with AUD/NZD shedding 0.25% to 1.0977.
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