Sydney and Wellington drag down AUD and NZD
Around 1 million people in Sydney (Eamonn reported on it earlier) will be stopped from leaving the city as the ‘Delta variant’ spreads. This variant is a problem as it is highly transmissible. Only around 3.5% of Australia is vaccinated and 6.6% of New Zealand. Also, people are less trusting of the vaccine. Could be a headwind for Australia and New Zealand going forward.