Kiwi falls despite New Zealand elimination of coronavirus

The New Zealand dollar fell on Tuesday, despite the country official announcement of effectively eliminating the coronavirus.

The New Zealand government announced that all coronavirus cases in the country have fully recovered and left hospitals.

Bearing in mind that New Zealand had a total of 1504 coronavirus cases, 1482 of which have fully recovered, while 22 victims died.

The government stated that over the past 17 days no new cases of coronavirus have emerged, and finally had been eliminated and defeated.

Consequently, the government has decided to relax all social distancing restrictions. While data showed today that business confidence in New Zealand reached -33 points vs. -41.8 points in the last month.

As of 17:12 GMT, NZD/USD fell by 0.5% to 0.6522, after hitting a high of 0.658 and a low of 0.6469.