XE Morning Update - Todd Muller New Leader Of The National Party

It has been reported that Simon Bridges has lost the National Party leadership vote to Todd Muller. Auckland Central MP, Nikki Kaye, as been elected as his deputy.

New separate news, NZ Finance Minister Grant Robertson has said:

• They are considering 'helicopter money' but not to a level where they have details on how it will work.
• 'Helicopter money' is where the Government or Reserve Bank make direct payments to individuals. These individuals are then expected to spend this money, thus stimulating economic activity.

The NZD is unchanged in immediate response.

Current indicative levels are:

NZDUSD 0.6110 / 0.6135

NZDAUD 0.9305 / 0.9330

NZDEUR 0.5580 / 0.5605

NZDGBP 0.4995 / 0.5020

NZDJPY 65.80 / 86.05

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