the New Zealand dollar strengthened against the US dollar in early trading due to possible position adjustments before Tuesday's US presidential election. The global economic and market research team at Commonwealth Bank of Australia (CBA) stated in a report that the dollar "may trade extensively this week" due to the election. The team said that if Trump leads in early voting on site, the dollar may rise. However, Democratic voters are more likely to vote by mail or in person early, which takes longer to count, the team said. Therefore, the team said that Trump's lead may shrink or disappear later this week. The team added that if Harris wins, the dollar may depreciate by 1%-2% this week.