Kiwi Falls With Euro on Political Uncertainties After Elections
- Yen slips before an expected announcement of a snap election
- New Zealand First Party courted to form coalition government
Euro, New Zealand Dollar Fall on Election Results
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The kiwi and euro declined as weekend elections in New Zealand and Germany left the ruling parties facing tough negotiations to form coalition governments. The yen also fell on a report that Japan’s prime minister is planning a stimulus package.
New Zealand’s dollar weakened against all of its major peers after Saturday’s inconclusive election outcome left investors uncertain over who will lead the next government. The euro halted a two-day gain as German Chancellor Angela Merkel’s victory was marred by a worse-than-expected result that leaves her facing the most splintered parliament in the nation’s modern history.