The New Zealand dollar on Monday ascended versus the US dollar, but remained close to 4 ½ year low as the greenback was still widely backed by speculations for a rate hike in the following months.
The US dollar remained supported even though figures showed the US economy contracted at an annual rate of 0.7% in the 1st quarter, according to the Commerce Department.
Against the US dollar, kiwi finished at $0.7078. The currency closed at NZ$1.0761 per Australian dollar.
On other news, the Australian Bureau of Statistics reported building approvals slipped 4.4% in April.
The material has been provided by InstaForex Company – www.instaforex.com