re: aud will dive .. arthur
I believe that if the scandal of NAB and the other banks and the 'suport' buying (nothing short of speculative buying) for the 'feel good effect' the government has been promoting to a blind audience, the dollar will dive.
The fundamentals do not support whats happening. it simply does not add up. But this is nothing new. John Merriweather did it sometime back when everyone believed it was going up because of the strong fundamentals.
Gold may have gone up yes, but the Rand has not increased proportionately either. The US dollar has been kept relatively low I believe for the same political reasons (and economic) that they interfered with it in the late 1970's and later after floating in the 1980's. Then it was to stop the Arabs and others with US dollar surpluses from flooding the market with it for strategic reasons or from spending it in unwelcome areas like the former Soviet Union who had captive clients in the region.
When copper hit the roof in the nineties when the fundamentals simplyw ere not there all of the pundits went for the ride demonstrating their sheepish ignorance. It was only when the Mitsubshi/ Sanwa trader (Rogue) had been caught out that the world realised what drove copper. And fundamentals was not the reason.
I believe that the real reasons for the climb in the AUD did not support the rise to this level. And by rights it should be diving soon like Now. I believe NAB will pay as much to have the media shut up as the government will encourage the media to do the same. There is a Nexus.
NAB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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