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NZ Dollar Rises Against Majors
(RTTNews) - The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.
The NZ dollar rose to an 8-1/2-year high of 90.72 against the yen and nearly a 5-week high of 0.6023 against the U.S. dollar, from yesterday's closing quotes of 90.35 and 0.6004, respectively.
Against the euro and the Australian dollar, the kiwi advanced to a 6-day high of 1.8064 and a 2-day high of 1.0798 from yesterday's closing quotes of 1.8117 and 1.0823, respectively.
If the kiwi extends its uptrend, it is likely to find resistance around 92.00 against the yen, 0.61 against the greenback, 1.78 against the euro and 1.06 against the aussie.
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Australian Dollar Falls Despite Upbeat Consumer Sentiment Data
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Data from Westpac-Melbourne Institute showed that consumer sentiment index rose to 98.5 in August from 93.1 in July. The improvement followed a further reduction in interest rates by the Reserve Bank of Australia. With the latest 25 basis points cut, interest rates dropped by 75 basis points since the start of the year.
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