New Zealand reports first COVID-19 cases in 102 days, Level 3 restrictions in Auckland, NZD/USD pressured

Yohay Elam FXStreet

New Zealand has reported its first coronavirus cases in 102 days and has announced it would slap new restrictions. All four new infections are within the same family, but authorities are concerned as they are unaware of the source of the new cluster.

The new limitations will affect Auckland, the country's largest city, which will enter Level 3 limits, including social closing bars and limiting gatherings. The rest of the country moves to Level 2, which implies social distancing measures.

NZD/USD is struggling at around 0.66.

The South Pacific nation is one of the world's best success stories. Prime Minister Jacinda Ardern is set to win reelection in the September 19 elections, yet a surge in cases could undermine her chances.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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