New Zealand PM Ardern: General election to be postponed by 4 weeks to October 17

Considering the negatives of the coronavirus (COVID-19) resurgence, New Zealand (NZ) Prime Minister (PM) Jacinda Ardern postponed the general election date by another four weeks from September 19 to October 17.

PM Ardern also said that she is not planning to change the date again while suggesting that the NZ parliament will sit until September 6.

The decision was called by the coalition partners and opposition parties but the ruling government asked time till today for discussion.

FX implications

Considering the hardening of the pandemic’s grip over the Pacific major, NZD/USD sellers keep the reins as the quote drops to 0.6545 after the news. It’s worth mentioning that the kiwi pair rose to the intraday high of 0.6553 during the early day’s run-up.