The dollar fell about 2% to a five-month low this morning after NZ First announced last night it would form a Labour-led government. BusinessDesk reported that the kiwi was trading at 70.08 US cents as at 8:30am in Wellington from 71.29 cents yesterday, before the announcement on the new government. The trade-weighted index fell to 73.79 from 75.18. Jacinda Ardern is the youngest Prime Minister of New Zealand for 150 years. Ardern has not yet named Cabinet Ministers or set out policy priorities, but markets have already weakened the dollar on speculation the new government may borrow, and spend more, curb migration, ... (full story)