He added that the kiwi could easily rise despite the potential cut. "Under the hood, if the accompanying statement is not overly dove-ish, that they're not looking for another cut, then we could see the kiwi go above 74-plus."
The New Zealand dollar briefly rose above 74 US cents in September, and was last above that level for a sustained period in April and May 2015.
The outcome of the US election is expected on Wednesday New Zealand time. Slabbert said the worst outcome for the markets would be a long, drawn-out, contested election, but a victory for Trump would see sentiment in the markets shift sharply negative, in a similar manner to Brexit.
The kiwi continued to gain against the British pound, rising to 59.10 pence from 58.73 pence yesterday and 58.52 pence on Friday. The local currency fell against the Australian dollar to 95.12 Australian cents from 95.36 cents.
The New Zealand dollar rose to 76.51 Japanese yen from 76.26 yen and increased against the euro to 66.36 euro cents from 66.06 cents. It gained slightly against the yuan to 4.9646 from 4.9570 yuan.
New Zealand's two-year swap rate was unchanged at 2.18 per cent, while the ten-year swaps gained four basis points to 2.91 per cent.
