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NZ FinMin: National party will keep interest rates low

FXStreet (Bali) - New Zealand Finance Minister English, is crossing the wires, ahead of the Sept 20 national election, noting that his national party will keep interest rates low, promises to keep a tight rein on spending, sees NZ$500m for modest tax cuts, adding that he would begin tax cuts in 2017 if conditions allow.

Meanwhile, New Zealand Prime Minister Key commented that there is no room for tax cuts for now, adding that he hasn’t decided on the structure of future tax cuts.

GBP/USD trying to rise from knees above 1.6200

GBP/USD has settled at 1.6218, but the downside pressure is still strong despite the recovery for the Asian low set at 1.6166.
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NZD/USD above 0.8300, but still under pressure

NZD/USD gapped to 0.8307 at the opening, but managed to recover towards Asian high at 0.8329, thus closing the gap. Currently, the pair is trading at 0.8319
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