Kiwi falls as US blue wave falters

Pat Gilligan, a director at Forex, said late polls and early results favouring Democratic candidate Joe Biden had pushed the US dollar lower allowing other major currencies to climb.

The kiwi dollar hit a peak of 67.39 US cents—from 66.32 cents at 5pm yesterday—as results began rolling in at 1pm in New Zealand but quickly turned back as Trump took the lead in the must-win state of Florida.

The kiwi fell one cent to a low of 66.20 US cents before recovering to 66.55 cents at 5pm in Wellington.

“A lot of those early numbers were for Biden, but as they are counting the actual physical votes, it is going back to Trump,” Gilligan said.