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Pm John Key has defended comments he made that the New Zealand dollar could fall below 50 United States cents.Prime ministers and their finance ministers usually avoid covering the dollar’s prospects, Unless they on purpose want to talk its prospects up or down as even the mention of it moving http://www.broncosproshop.cc/ one way or the other can spook investors.Speaking on the Agenda the telly programme yesterday, Mr Key gave the impression to slip into his old role as a money trader and happily mused on the New Zealand currency’s fortunes.He said he believed dollar could trade below US50c in the future and below 80 Australian cents.The dollar has been trading from the US52.5c to US53c commemorate, And up stated right through A80c.Mr Key today defended his verbal foray back into the fx.Was hardly a major conjecture, He said on TVNZ’s Breakfast regimen.A reflection of the fact costs drive the exchange rate. They were cut strongly on Thursday and I think that is a good thing.He said he did not think his comments would affect the alternate rate.Mr Key said each and every the dollar went below US50c and above US70c, Then one of the currencies was being underrated or overvalued.While a low rate made imports rather pricey, He believed exporters would welcome the low valuation of the dollar compared to the record highs of recent years.Worse aheadMr Key also warned of far more dire economic forecasts during his Agenda interview yesterday.With news of 200 fresh redundancies at ANZ National magnifying the scale of the economic crisis he said it was vital not to overreact.Remember, though,Nor should we ignore the challenge we are facing, He told the regime.He said the Governor General’s Speech from the Throne tomorrow would set out the new united state’s agenda for the next three years and would focus on the economy, Law and place, Health insurance and education.Parliament would then go into urgency to pass a few legislation in National’s 100 day plan. Your cabinet was expected to sign off the legislation today, Such as tax cuts, Adjusts to KiwiSaver, Bail principles, And National’s promise to finance Herceptin for a 12 month course.