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In an interview with state-owned television RAI, Italy’s ruling League party’s Economics Chief Claudio Borghi said that his party is considering tax cuts in the 2020 Budget, as cited by Reuters.

This could be achieved by increasing the country’s deficit a bit, he added.

Borghi noted: “We need to pursue a tax cut and it is obvious that a small proportion will be funded with the deficit”.

EUR/USD continues to trade in an extremely narrow range around 1.1100, as the German stimulus hopes play out ahead of the Eurozone flash Manufacturing PMI reports.