NZD rose modestly in early trade after New Zealand’s weekend election left the governing National Party in a favourable position to form a coalition. NZD/USD climbed as much as 0.5% to 0.5569, recovering from a one-plus-year low last week. New Zealand two-year and 10-year government bond yields were broadly unchanged. Jason Wong, senior strategist at BNZ in Wellington, said the result is mildly positive for the NZD and markets currently lean toward a centre-right coalition remaining in power.