The New Zealand dollar rose after prices gained in Fonterra's latest sale of dairy products, the nation's biggest export, and as America votes for the next president of the world's biggest economy.
The kiwi dollar rose to 82.84 US cents from 82.61 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 74.09 from 73.94.
Prices of dairy products rose 1.1 per cent in Fonterra's latest GlobalDairyTrade auction, the second straight gain on the sales platform. The auction comes after the ANZ
Commodity Price Index rose for a third straight month in October, with cheese up 4 per cent while butter and milk powders rose 3 per cent. Prices also rose in New Zealand dollars as the currency firmed.
"The strengthening dairy prices add to the case that the NZD/USD will remain supported at historically high levels," Bancorp Treasury Services said in its morning note.
As American's vote, the race between President Barack Obama and challenger Mitt Romney is too close to call. Shares rose in the US and the greenback declined against most major currencies as the vote got underway.