THE New Zealand dollar has increased in local trading ahead of US employment figures, seen as the linchpin to whether the US Federal Reserve will start unwinding economic stimulus.
The kiwi rose to 79.08 US cents at 5pm in Wellington from 78.88 cents at 8am, and 78.95 cents on Thursday.
The trade-weighted index gained to 74.95 from 74.68 on Thursday.
US non-farm payroll statistics are expected to show the world's biggest economy added 180,000 jobs last month and the unemployment rate remained at 7.4 per cent.
Fed chairman Ben Bernanke has linked the reduction in money printing to an improving labour market, and the jobs data are seen as being the final arbiter on whether the tapering plan will begin this month.
"It's going to be the final hurdle for 'Septapering' - it's either a real baddie and takes it off the table, or it's OK to a goodie in which case it's firmly on the table," said Imre Speizer, market strategist at Westpac Banking Corp in Auckland.
"The payrolls then the September FOMC (Federal Open Market Committee) should give the kiwi direction."
The NZ currency is heading for a 2.4 per cent gain against the greenback this week and the trade-weighted index is heading for a 1.5 per cent weekly gain.
The kiwi gained to 86.60 Australian cents at 5pm in Wellington from 86.13 cents on Thursday, was little changed at 78.91 yen from 78.85 yen and climbed to 60.25 euro cents from 59.86 cents.
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