WELLINGTON, New Zealand--The New Zealand dollar was higher late Wednesday, in particular against the Australian dollar.
The Kiwi gained against the Australian dollar as iron-ore prices fell overnight and on more jawboning from Reserve Bank of Australia Deputy Governor Philip Lowe, said Westpac Bank Senior Strategist Imre Speizer.
It was slightly higher against the U.S. dollar, recovering from a two-week low overnight Tuesday after news broke that New Zealand's inflation expectations remain contained.
In late Wellington trading, the New Zealand dollar was at US$0.7822 versus US$0.7812 Tuesday while it was at A$0.9154 versus A$0.9109. Mr. Speizer said it is knocking on the door of resistance at A$0.9160 and if it breaks through that resistance, the next target will be A$0.9200.
While it is faring well against the Australian dollar, he said it continues to have a slight negative bias against the U.S. dollar and investors will be watching for a raft of U.S. data overnight, including that on durable goods, the ISM-Chicago Business Survey, new residential sales and the University of Michigan Survey of Consumers.
Write to Rebecca Howard at rebecca.howard@wsj.com
(END) Dow Jones Newswires
November 25, 2014 23:10 ET (04:10 GMT)
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