The leaders of New Zealand’s main parties prepared Sunday to start talks with Winston Peters, the leader of a nationalist party who emerged as kingmaker after an inconclusive general election, but Peters indicated he was in no rush to pick a side. A New Zealand Dollar note is seen in this illustration on June 2 (Reuters file photo)

WELLINGTON — The New Zealand dollar (NZD) is set for more volatility in coming weeks after a general election left New Zealand's major parties with no majority to govern, forcing them to enter negotiations with the nationalist New Zealand First Party. The main opposition Labour Party, led by charismatic newcomer Jacinda Ardern, polled a disappointing 35.8 per cent to take 45 seats, although that rises to 52 if the seven seats of close ally the Greens are included.
Prime Minister Bill English of the National Party wins a plurality of votes, but not enough for a majority, as the Labour Party led by Jacinda Ardern makes significant gains. Winston Peters becomes a kingmaker with his third-placed New Zealand First party, able to form a coalition government with either major party.