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New Zealand Dollar Battered by Election Uncertainty

Yesterday’s high: NZ$1.8619

Yesterday’s low: NZ$1.8478

NZD Plummets after Final Election Figures are Released

The New Zealand Dollar fell sharply at the start of this week’s session following the release of New Zealand’s final election figures on Saturday.

The final tally saw the ruling National Party cede a further two seats, one to labour and one to the Greens, doing little to reassure investors as it leaves NZ First as the kingmakers of the next government, with no clues as to which way the party will swing.

Meanwhile, the Pound rallied on Monday as the UK currency recovered from its own political uncertainty over the weekend, with fears of a potential leadership challenge against Theresa May beginning to recede.

NZD Outlook: UK Trade Deficit to Narrow?

The Pound may extend its gains against the ‘Kiwi’ later this morning with the release of the UK’s latest trade balance figures as economists forecast that Britain’s trade deficit will have narrowed slightly in August.

Meanwhile, the next piece of notable New Zealand economic data will be the release of the latest consumer confidence figures on Thursday, with a slight uptick in sentiment possibly pushing the New Zealand Dollar higher.

Key Events

10th October

09:30 UK Trade Balance Aug

12th October

02:00 NZ Consumer Confidence Oct

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To keep up to date with the New Zealand Dollar, visit the NZD blog in our Currency News section.

Joe Mayhew

Senior Currency Broker
T: 01442 892 060

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