The New Zealand dollar gained amid mixed US data as investors await the outcome of the Federal Reserve's two-day meeting starting today.
The kiwi rose to 81.72 US cents from 81.26 cents yesterday. The trade-weighted index advanced to 78.51 from 78.07 yesterday.
US data overnight presented a mixed picture of the state of the world's largest economy, as the New York Fed's September US Empire Manufacturing release beat expectations, followed by August industrial production data which lagged forecasts. Investors are awaiting the outcome of the policy-making Federal Open Market Committee meeting in anticipation it may change its guidance on the future interest rate path.
"Markets appear to be a little in limbo ahead of this Thursday morning's crucial US FOMC meeting," BNZ senior market strategist Kymberly Martin said in a note. "The market may have got a little ahead of itself in the extent it anticipates a less dovish tone at this week's FOMC meeting."
The Fed has previously said that rates would stay low for a period after it completes its bond-buying programme, which is expected to end in October. The Fed has held its benchmark interest-rate target in a range of zero to 0.25 percent since 2008 to support the economy. It last raised interest rates in 2006.
