Investing.com - The New Zealand dollar climbed against its U.S. counterpart on Wednesday, supported by the release of upbeat trade balance data from China
NZD/USD hit 0.8367 during late Asian trade, the pair''s highest since January 15; the pair subsequently consolidated at 0.8355, gaining 0.42%.
The pair was likely to find support at 0.8267, Tuesday''s low and resistance at 0.8432, the high of January 14.
Data showed that Chinese exports jumped 10.6% in January from a year earlier, outstripping expectations for 2% gain, while imports jumped 10% and the trade surplus widened.
China is New Zealand''s second biggest export partner.
In the U.S., Federal Reserve Chairwoman Janet Yellen told the House Financial Services Committee that the central bank would continue to gradually reduce the pace of its asset purchase program.
In her first Congressional testimony since her appointment as Fed Chair, Ms. Yellen also reiterated that Fed plans to hold interest rates at zero “well past” the time the jobless rate falls below 6.5%.
The kiwi was higher against the Australian dollar, with AUD/NZD slipping 0.19% to 1.0840.
Also Wednesday, the Westpac Banking Corporation said consumer sentiment in Australia dropped 3% in February, after a 1.7% decline the previous month.
Later in the day, New Zealand was to release data on manufacturing activity.
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