On Friday afternoon Manila time, Watcher reached 100% over its November 21st starting balance. Market has been characterized by unverifiable news (rumour) causing it to briefly kick up, then to settle back down to its support level around 1.30. This is also a major psychological level. From here, there is up and there is the June 2010 level of around 1.20, then quickly down to September 2001 levels of 0.85. Scary! news of good Spanish bond sales bely the fact that Spain cannot repay its debts, there just simply isn't the margin in its budget. An interesting comparison of national debt per capita shows the US in a surprisingly strong position over the majority of European nations.
On another note, HSBC moots AUD falling to 0.93c from its current parity level, so that's another medium to long opportunity to watch out for.
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