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NZ dollar falls ahead of new government announcement

Published 19/10/2017, 03:35 pm
Updated 19/10/2017, 03:40 pm
© Reuters.  NZ dollar falls ahead of new government announcement

SYDNEY, Oct 19 (Reuters) - The New Zealand dollar NZD=D4 slipped over 0.8 percent on Thursday as investors grew jumpy ahead of a much-awaited announcement on the new government following an inconclusive election last month.

The Kiwi fell to a low of $0.7082 from a high of $0.7173.

It was last down 0.6 percent at $0.7113, on track for its third straight day of losses.

It had already fallen around 2.5 percent against the U.S. dollar since the Sept 23 vote. small New Zealand First party holding the balance of power will announce later in the day which party it will back in government, ending weeks of political limbo that have hurt the currency and business sentiment.

Before the election, the kiwi tended to strengthen when the National, which has been in power for nearly a decade, rose in opinion polls and fall when Labour gained ground.

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