The New Zealand dollar jumped above 72 US cents for the first time in more than a year as confidence that UK voters will stick with the European Union firmed ahead of today's historic vote.
The kiwi climbed to 72.44 US cents at 8am in Wellington from 71.80 cents at 5pm yesterday. The trade-weighted index climbed to a 13-month high 76.52 and was at 76.46 at 8am from 75.99 yesterday.
Britons are in the final hours of a referendum on whether to stay in the EU, ending several weeks of heightened volatility in financial markets where polls showed the race to be closely run. The Chicago Board Options Exchange's Volatility Index, known as Wall Street's 'fear gauge', dropped from a four-month high, indicating volatility in markets has eased.
Sterling rose to a six-month high against the greenback and equity markets on both sides of the Atlantic rallied on expectations UK voters will choose to stay in the EU.
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