Cheers bd, I think now is when we find out the status of the USD in respect to being a reserve currency.
Everything says not to pay more than 20c for a every USD, but the charts are urging a bit of caution still.
Might be the last remaining vestiges of the once proud resrve currency. Who knows.
But everyone should know not to take ANY lead from the media. The trend is your friend.
If China and Japan fall over it could be the end of the run for the AUD. Commodity prices contracting would be another reason for concern.
I can see why the US needs a sizeable distraction from the goings on at home, or lack thereof. Bring on another military occupation somewhere - target north Africa, oil pipelne to morrocco and secure seaports in the mediteranean/northwest africa. Iran would be a bonus scalp. ... and it's all in the front yard of your competition. They've left out Algeria so far - but you're seeing the pattern? Egypt, Libya, Tunisia, Morocco ... draw a line from Iraq to the US.
