New Zealand dollar rises on election hopes

The New Zealand dollar rose on Thursday, amid optimism that the popular Prime Minister Jacinda Ardern will secure another term.

The New Zealand authorities announced the victory of Jacinda Ardern’s Labour Party in the 2020 general election.

This came after the government of Ardern's noticeable handling of the coronavirus crisis that even been praised by the World Health Organization for the measures taken to contain the virus outbreak.

The New Zealand's CPI reading will be released later today, amid forecasts to rise by 0.9% in September vs. August's reading of a drop by 0.5%.

Otherwise, the number of coronavirus infections surpassed 41 million cases worldwide, while the death toll continues to increase, which has exceeded 222,000 victims in the US alone.

As of 18:35 GMT, NZD/USD rose 0.5% to 0.6686, after hitting a high of 0.6689 and a low of 0.6632.