The New Zealand dollar was little changed at the close of the local business day on Monday, holding onto its recent gains.
Investors are still waiting on economic data from the United States which has been delayed by the 16-day partial shutdown of some Federal Government departments.
ASB Bank's head of external foreign exchange sales, Tim Kelleher, says the market is betting the Federal Reserve now won't have sufficient data to begin winding back its money printing before December.
A short time ago, the New Zealand dollar was trading at 84.84 US cents, 87.83 Australian cents, 52.5 British pence, 0.6205 of a euro, and 83.09 Japanese yen.
Stocks rallied strongly as well, and the the benchmark Top 50 Index rose 44 points, or nearly 1%, to 4803.
The head of wealth research at Craigs Investment Partners, Mark Lister, says expectations of a delayed tapering of the Fed's money printing is also boosting stocks.
Metlifecare shares climbed 26 cents to $3.60.
Among other movers, the board papers software company, Diligent, rebounded 30 cents to $4.80 after as steep sell-down due to its accounting problems.
But a sharemarket darling, the accounting software company, Xero, dropped 50 cents to $26.50 today after rising from $18 on 9 October.
Across the Tasman, the Australian share market hit its highest level in more than five years as investors there also bet that the United States will extend its economic stimulus program into next year.
The All Ordinaries Index closed up 30 points to 5351 and the ASX 200 added almost 0.6% to reach 5352.
In domestic economic news, official figures show a seasonally-adjusted net gain of 2800 migrants in September, due to more arrivals and fewer people departing.
On an annual basis, there's been a net gain of 15,200 people, which is above the long term average annual net gain of 11,300 migrants over the last 20 years.
