The election in New Zealand is coming up on September 20 and its been pretty much a foregone conclusion up until now that current PM will cling onto power.

Until now, that is…

Some market chatter this morning on this story on Bloomberg: Dotcom Plots New Zealand Grab With Dance-Party Politics

  • Dotcom’s nascent Internet Party, bankrolled with NZ$3 million ($2.5 million) of his own money, has entered an alliance with the Mana Party, led by a Maori activist, to form Internet Mana and boost his chances of gaining political clout.
  • polling shows Internet Mana could win as many as five seats — a decisive bloc whose support the main opposition Labour Party would likely need to form a government

–

If any more reasons were needed to sell Kiwi this might well be another.

Whatever the narrative is, the NZD is lower this morning.