The New Zealand dollar fall on the choice by NZ First on who to anoint continues
- NZD/USD circa 0.7000 now
We await policy announcements to gauge the impact of the new government. About the only thing certain is with such a tight margin the new government will have to work very hard to ensure stability and legislative progress.
The Labour/Green/NZ First coalition will govern with a razor thin majority (63 seats of the 120 seat parliament) and for the time being fear of the unknown is the dominant emotion in the NZD/USD market. That'll pass. But not yet.
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